Gamma Communications extends Epiris' offer deadline to Sepember 2
Gamma Communications PLC on Wednesday said it has extended its deadline for Epiris LLP to make a takeover bid.
The Newbury, Berkshire-based provider of cloud communications and voice services extended the put-up-or-shut-up deadline to September 2, having previously extended the deadline to July 8 and then again to August 5.
The company first announced on May 15 that it was in "preliminary" talks with Epiris, the London-based private equity firm, regarding the latter's potential takeover offer.
In June, Gamma reported a possible offer from a consortium made up of Rhode Island, US-based private equity firm Providence Equity Partners LLP and Epiris, to make a joint offer. Providence dropped out on June 24.
Also in June, London-based PE firm Oakley Capital backed down from making an offer for Gamma.
"Discussions between the company and other potential offerors remain ongoing. There can be no certainty that an offer will be made nor as to the terms on which any offer might be made," noted Gamma after today's extension.
Shares in Gamma closed flat at 970.00 pence in London on Wednesday.
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