Playtech PLC (LSE:PTEC) said the "put up or shut up' deadline for TTB Partners to make a firm offer for the software group has been extended.
TTB now has until the 15 July to decide if it will bid for the group, a statement from Playtech said.
Investment bank Peel Hunt said the move was an “encouraging sign” TTB may yet put forward an acceptable bid.
“A takeover is not the only option open to Playtech to release value, and we reiterate our Buy recommendation and 800p target price,” Peel Hunt said today.
The broker’s target price is 53% above the 528p closing price of Playtech’s shares yesterday.
The TTB consortium told Playtech’s board in February it was willing to offer more than the 680p bid from Aristocrat Leisure, Playtech said on its website.
The software group was previously courted by Gopher Investments and JKO Play Limited.