STM Group announced today (28 May) a one month extension of the deadline for its acquisition by Bidco, a process originally set to be completed by 28 May 2024, due to delays in obtaining necessary regulatory approvals.
The new deadline for the court-sanctioned scheme of arrangement is now set for 28 June 2024, with shareholders having previously shown overwhelming support for the move.
The terms of the acquisition, which entail Bidco taking over the entire issued share capital of STM, remain unchanged, the statement said.
