Hargreaves Lansdown PLC (LSE:HL.) has extended the bid deadline for takeover talks with a consortium led by private equity group CVC until Friday to allow a deal to be concluded.
An original deadline of 19 July was extended until today but with talks about the £5.3 billion deal still ongoing, a further extension had been granted.
CVC’s consortium includes Nordic Capital and Platinum Ivy, a wholly-owned subsidiary of the Abu Dhabi Investment Authority.
Hargreaves Lansdown’s board has already indicated it is prepared to recommend the move to its shareholders, though there have been objections from some investors over the possible preferential treatment of the group’s founders.
In a statement, Hargreaves Lansdown added: “There can be no certainty that a firm offer will be made nor as to the terms on which any such firm offer might be made.”
Full-year results from the Bristol-based wealth platform are due this Friday.