UK Regulators Push Back Carlyle Deadline For Chemring Bid

Law360, New York (September 14, 2012, 4:24 PM EDT) -- U.K. takeover regulators on Friday extended the window for the Washington-based Carlyle Group to make an offer for flagging military contractor Chemring Group PLC, a deal that could come at a cut rate after the company scaled down its earnings forecast.

The extension comes after Carlyle, on a spending spree this summer, missed its first bid deadline at the end of business Friday. In line with Chemring's request to the Takeover Panel, the firm will now have until Oct. 12 to make an offer.

Until then,...
To view the full article, register now.