In December last year James Nicholson, grandson of the founder and the company’s property development director, submitted a tentative proposal to take the publicly quoted firm back into family ownership. Under the City Code on Takeovers and Mergers, these moves have to be made public and Mr Nicholson was given an initial month to either announce a firm intention to make an offer for Pochin's or to walk away.
Since that time, the Takeover Panel has agreed to extend the deadline every month to allow the discussions to continue.
A new deadline of 26th May 2014 has now been granted to the company.
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