Members of the Pochin family seeking to take back the Cheshire construction group into private ownership have been given more time to prepare their offer.
Property development director Jim Nicholson, grandson of founder Cedric Pochin, made an initial approach to the board in December, together with members of the Cedric Pochin concert party. Under Stock Exchange rules, he had until 6th January to either announce a firm intention to make an offer for Pochin’s or to walk away.
On 6th January the Takeover Panel agreed to an extension to the ‘put up or shut up’ deadline to 3rd February.
With takeover talks still going on but not having reached a conclusion, a further extension to 5pm 3rd March 2014 has been granted