(Sharecast News) - Fund solutions provider JTC said on Friday that the deadline for takeover talks with Permira and Warburg Pincus has been extended.
JTC announced in September that it had received a takeover proposal from private equity firm Warburg Pincus and a revised offer from Permira and that it was in early-stage discussions with both.

Under UK takeover rules, the potential suitors both had until the end of the day on Friday to either announce a firm offer or walk away.

"JTC has received confirmation from Permira and Warburg Pincus that their due diligence on JTC has been satisfactorily completed," the company said.

"JTC is in advanced discussions with Permira and Warburg Pincus," it said. Accordingly, JTC's board requested an extension to the 'put up or shut up' deadline from the Panel on Takeovers and Mergers.

Warburg and Permira now have a PUSU deadline of 14 November.

"There can be no certainty that any firm offer will be made for the company, nor as to the terms on which any such offer might be made," it said, adding that further announcements will be made as and when appropriate.

At 1545 GMT, JTC shares were up 3.8% at 1,340.94p.

• News Channel