CareTech bid deadline extended for Sheikh Consortium, Dbay
Social care and education services provider CareTech Holdings has announced that the UK Takeover Panel has extended the bid deadlines for both the Sheikh Holdings Group consortium and Dbay Advisors.
Following the announcement, both parties have until 30 May to put forward a formal offer for CareTech or a decision to walk away.
The extension allows further time for talks with both the consortium and Dbay Advisors to continue, the company said.
The consortium comprising Sheikh Holdings, Belgravia Investments, Kensington Capital, and funds managed by THCS IV GP SARL, which had submitted an indicative 725p per share proposal on 30 March, revised its offer in a stock exchange announcement on 13 April matching the 750p per share put forward by Dbay Advisors.
CareTech Holdings shares are trading at 737.0 pence at the time of writing.
Date published: April 29, 2022