Colloids wins extension

Colloids wins extension

Chemicals group Allied Colloids Group gained more time to publish all information in defence to the hostile pounds 1.07bn takeover bid made by the American group Hercules. The Takeover Panel said yesterday the timetable was being extended as the Office of Fair Trading was yet to decide whether the bid would be referred to the Monopolies and Mergers Commission (MMC). The last day for publication of new information by Allied Colloids, usually the 39th day after the offer document is posted, was this Sunday. The Panel said the "day 39" would now be deemed to the second day after it was made known whether it should be referred to the MMC.