Offer talks drag on at Pochin’s
CHESHIRE-based construction group Pochin’s has been given another extension to weigh up a potential bid for the business.
It said today that it is still in talks with the firm’s property development director Jim Nicholson, a member of the Pochin family, who is fronting a potential bid which will be around 40p a share.
In an update, the AIM-listed Middlewich company said discussions between its independent directors and Mr Nicholson and the Cedric Pochin concert party – other family members and shareholders – were still “on-going”.
It added: “The independent directors consider that it remains in the best interest of shareholders for discussions to continue with the potential offeror.”
The potential suitors now have until 5pm on May 26 to reveal whether they intend to make an offer or not.