Deadline for Cobra bids extended

Steve Burrows

The extension gives the two potential bidders, Towergate and Alto (a vehicle set up by Cobra chief executive Stephen Burrows, pictured) four weeks to make a formal offer for the group.

The previous deadline for firm bids was today.

Towergate has indicated that it would make a cash offer for the business thought to be in the region of 18p per share which values the company at around the £6.5m mark.

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