Last month Dixons Retail and Carphone Warehouse Group confirmed they were talking about a potential merger, although these discussions were described as being “at a very preliminary stage”.
Under the City Code on Takeovers and Mergers, the two companies were required to either announce a firm offer or confirm they won’t be making an offer by 5pm today.
However, the Takeover Panel has now allowed them to extend their deadline until 19th May 2014 because “both parties have agreed that they require more time to evaluate a potential merger of the two businesses”.
A joint statement from Dixons and Carphone Warehouse also says “discussions are still ongoing and there can be no certainty that a firm offer will be made”.