The independent directors of ferries group Irish Continental have extended a deadline they had set for the two groups trying to take over the company.
Both Moonduster - which includes One51 and Doyle Shipping - and the management group Aella have been vying for control of the company. Both had offered €22 per share, leading to what the directors acknowledged was a 'lack of clarity'.
Earlier this week, the directors said neither offer could be implemented without the support of the other party and referred to talks it had initiated between the two sides.
They set a deadline of noon on July 26 for both sides to confirm the highest price they were currently prepared to offer. The two sides also had to indicate what they would do if the independent directors recommended one of the offers. This deadline has now been extended to Monday July 30 at 5pm.
