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(Sharecast News) - Learning Technologies announced an extension to the deadline for General Atlantic, through its managed and advised funds, to make a firm offer for the company under the Takeover Code on Friday.
The AIM-traded firm said the initial 'put up or shut up' (PUSU) deadline, originally set for 1700 GMT on 22 November, was extended to 6 December following approval from the UK Takeover Panel.
It said General Atlantic had completed its due diligence on Learning Tech, with discussions between the parties, along with the negotiation of definitive transaction documentation, said to be advanced but ongoing.
The revised PUSU deadline could be further extended with the agreement of Learning Technologies and the Takeover Panel.
At 1135 GMT, shares in Learning Technologies Group were up 2.85% at 92.77p.
Reporting by Josh White for Sharecast.com.
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