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Carlyle Given Extension on Chemring Acquisition

Sep. 14, 2012 - 09:33AM   |  
By ANDREW CHUTER   |   Comments
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The Carlyle Group has been given until Oct. 12 to make a decision on whether it wants to go ahead with a deal to acquire British-based defense contractor Chemring.

The U.S. private equity group secured an extension to the original Takeover Panel requirement on the possible takeover, which was due to expire today.

Chemring announced in August that Carlyle had made a preliminary expression of interest for the countermeasures, munitions and pyrotechnics maker.

The company last year had revenues of 754 million pounds ($1.22 billion) but issued a profits warning shortly after the approach from the private equity group.

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