Takeover talks still ongoing at Straight

ONE51, the group behind the possible takeover of recycling products business Straight, has been granted another extension.

Earlier this year, Leeds-based Straight said it had received a “preliminary approach” from environmental and renewable energy group One51. This was in February and since then, One51 has been given two extensions.

In an announcement this morning, Straight confirmed that Dublin-based One51 is continuing discussions with the board regarding a possible offer for the company and the deadline has been extended to May 2.

By 5pm on this date, One51 must either announce a firm intention to make an offer for the company or walk away.

Straight said it remains in discussions with One51 but that there is no certainty that the approach will lead to an offer being made for the company.

One51 operates a portfolio of businesses in the areas of environmental services, renewable energy and injection moulding plastics.

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