Huadong Medicine : Sinclair Pharma says Chinese firms given more time to make takeover offer

(Reuters) - Sinclair Pharma said on Thursday that Britain's Takeover Panel had agreed to allow privately owned China Grand Enterprises and its affiliate company Huadong Medicine Co more time to make an offer for the British firm.

Under British takeover rules, China Grand Enterprises and Huadong Medicine now have until Aug. 23 to either announce a firm intention to make an offer or walk away.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr)