Fresh extension for Pochin’s offer talks

Pochin

CHESHIRE-based construction group Pochin’s has been granted a further extension by the Takeover Panel to continue talks with family members over a possible offer to take the company private.

The company first announced to the market on December 9 last year that property development director James Nicholson and other members of the Pochin family had made an approach regarding an offer around 41p per share.

Since then the talks have continued, with the Middlewich company’s independent directors now having until 5pm on June 23 to continue discussions.

In a brief update the group said: “The independent directors consider that it remains in the best interest of shareholders for discussions to continue with the potential offeror… A further announcement will be made in due course.”

Mr Nicholson is the grandson of the founder of the business, which is currently involved in the project to build a new hospital in Altrincham.

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