Irwell Financial Services Bidco Limited and Frenkel Topping Group plc have agreed to extend the deadline for their acquisition deal for a second time.
The parties announced on Thursday their intention to extend the long stop date beyond May 29, 2026, subject to approval from the Takeover Panel and the Court.
The extension is needed to allow more time to obtain regulatory approval from the Financial Conduct Authority for the change in control.
The companies are discussing amendments to Irwell Bidco's capital structure to meet new capital adequacy requirements that took effect on April 1, 2026.
Shareholders will be given time to consider whether to accept or withdraw from the alternative offer once the amendments are finalized.
