Shares in FTSE 250 firm Gamma Communications rose 7% today after the deadline for a potential takeover was extended.
The European business communications technology provider announced in May that it was in talks with Providence Equity Partners about a possible takeover bid.
Soon afterwards it also opened discussions with Epiris – then in June the two private equity houses formed a consortium. However Providence pulled out of any potential deal later in the month.
PE firm Oakley Capital also withdrew from its pursuit of Gamma in June.
Gamma, whose core markets are the UK and Germany – with additional presence in Spain and the Benelux region – completed a restructuring last year to slash annual operating expenses by £7 million.
Its valuation suffered, making it a target for acquisition. However the deadline for Epiris to make a bid, set for mid-June, was extended to today (8th July) – and has now been extended again to 5pm on 5th August 2026.
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Gamma said it was also talking to other potential acquirers.
Its share price remains 3% down in the year to date.