The Irish Takeover Panel has extended the deadline by which a consortium must decide whether or not to make a formal offer for ferries group Irish Continental.
Cork-based shipping firm Doyle Group and One51 had been given until 5pm today to make an offer, but the takeover panel has now agreed to a request from ICG's independent directors to extend the deadline until Friday at 5pm.
A statement from the ICG directors said the consortium had made 'significant progress' in the last couple of weeks but may not be in a position to meet the existing deadline because of reasons beyond its control.
