International Personal Finance (LSE:IPF) has requested more time to continue talks with US-based BasePoint Capital about a potential takeover offer.
News of talks about a potential cash offer to be made by BasePoint emerged last month.
IPF said the two sides are continuing discussions and have called for the deadline for the US-based speciality lender to make a firm offer to be pushed back to 24 September.
A month ago, the London-listed consumer finance business said a possible cash offer of £490 million, or 220p per share, had been mooted, with shareholders also due to keep the interim dividend of 3.8p.
The IPF board said it is confident of the prospects as a standalone company but is "minded to recommend" the offer should BasePoint make a firm bid on these terms, following due diligence and agreement on other details.