TTB Partners gets deadline extension to make Playtech bid

Gambling software maker Playtech said on Friday that the UK Takeover Panel has extended the deadline for TTB Partners to either announce a firm intention to make an offer for the company or walk away.

TTB initially had until the end of the day on Friday but as discussions between the two parties are still ongoing and "progress continues to be made", the Takeover Panel has agreed to extend the deadline to 15 July.

"This is not an announcement of a firm intention to make an offer, and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made," Playtech said, adding that a further announcement will be made as and when appropriate.

Playtech first announced in February that it was in talks with Asia-based investment group TTB.