UK Takeover Panel Agrees Extension to Augean, Morgan Stanley Takeover Deadline

By Ian Walker

Augean PLC said Thursday that the U.K. Takeover Panel has agreed to extend the deadline for Morgan Stanley Infrastructure Inc. to make an offer for the U.K. waste-management company or walk away in order that they can continue talks.

Morgan Stanley Infrastructure now has until July 22 to decide whether to proceed with an offer for Augean.

On May 27, Morgan Stanley Infrastructure, an infrastructure-investment arm of the U.S. bank, confirmed that it was in the preliminary stages of considering an approach to Augean.

Shares at 0729 GMT were down 2.50 pence, or 0.9%, at 277.50 pence.

Write to Ian Walker at [e-mail]

(END) Dow Jones Newswires

06-24-21 0349ET