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LONDON - The Takeover Panel has extended the deadline for competing acquisition offers for Inspired plc, according to a regulatory announcement issued Wednesday.
The Panel set a new "Day 60" deadline for both Regent Acquisitions 2025 Limited and Intrepid Bidco Limited, which have made competing cash offers for the entire issued and to be issued share capital of Inspired.
Under the ruling, both bidders will now have until the 60th day following the publication of Intrepid Bidco’s offer document to satisfy conditions for their respective offers. The original deadline for Regent’s offer was July 6, 2025.
Regent announced its firm intention to acquire Inspired on April 22 and published its offer document on May 7. More recently, on June 26, Intrepid Bidco, a newly formed company indirectly owned by funds managed by HGGC, LLC and its affiliates, announced it had reached agreement on terms for a recommended cash offer for Inspired.
The extension follows standard procedure under Rule 31.3 of the Takeover Code, which normally extends deadlines when competing firm offers emerge. According to the announcement, all three companies involved have accepted the Panel’s ruling.
The Takeover Panel, which supervises and regulates takeovers in the UK, made the determination to align the timetables for both competing offers based on the publication date of the later offer document.
The regulatory announcement was released through RNS, the London Stock Exchange (LON:LSEG)’s news service.
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