Sheikh consortium, Dbay bid deadline extended to 27 June

Zina Fragkiadaki
May 30, 2022
M&A

The Sheikh Holdings Group consortium and Dbay Advisors have been given four more weeks to make an offer for the London-listed social care and education services provider CareTech Holdings.

As reported by HealthInvestor UK, extensions had been granted until 5pm today (Monday 30 May). CareTech said talks with both the consortium and Dbay are progressing, and that the new extension allows further time for them to continue.

Both parties now have until 5pm on 27 June to put forward a formal offer for CareTech or walk away.

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 Marchrevised 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 712.50 pence at the time of writing.

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