One of the potential bidders for Network International (LSE:NETW) has been given an extended deadline to 'put up or shut up' (PUSU) after making an approach last month.
In a statement, the payment group said its discussions with the consortium of CVC and Francisco Partners "remain ongoing" after the 387p per share proposal was made by the consortium.
However, not long after, it received a “highly preliminary” rival 400p a share cash offer from Canada's Brookfield Asset Management.
With the consortium's current deadline due today, a new PUSU date of no later than 5pm on 1 June has been set.
Brookfield's is 19 May.