Cobra takeover deadline extended again
The board of Cobra Holdings confirmed on Friday that it was still in negotiations with Alto Intermediary Group but that the deadline for the takeover had been extended to 22 June.
The announcement to the London Stock Exchange confirmed that Alto, a company formed by Stephen Burrows, the chief executive of Cobra, had received credit approval for its funding, but that any offer remained subject to the satisfaction of various conditions precedent which were being addressed.
The original deadline to announce a firm intention to make an offer for Cobra was 1 May at which point Towergate were in the running however the broking giant pulled out on 18 May.
The deadline has, with
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