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Robert.Jervis_43227 Dec 19

Clipper has more time

Clipper has more time image
Deadline extended
Clipper Logistics PLC has confirmed that the Panel on Takeovers & Mergers has extended the deadline regarding its takeover from private equity firm Sun European Partners LLP.

The company said the deadline has been extended to no later than 1700 GMT on January 15.

Clipper said that it has requested to extend the deadline to allow further time for the ongoing discussions to take place.

Back in November, Clipper had said it had received a takeover approach from Sun European Partners.

Sun European - which is the European adviser to US-based private equity fund Sun Capital Partners Inc - had until December 18 to either make a firm offer or back away from the deal.

Clipper shares closed 1% lower in London at 291.00 pence each on the 19th December