Chemring grants Carlyle Group extension for bid talks

City A.M. Reporter
Chemring has granted private equity company Carlyle Group an extension to make a firm offer for the defence equipment maker.

Carlyle now has until 5pm on 9 November to table a bid for Chemring. The deadline was originally 5pm this afternoon.

Chemring, which makes flares, equipment to detect improvised explosive devices and mechanisms used in ejection seats, said on 17 August that it had received a highly preliminary expression of interest from Carlyle.

Following the collapse of high-profile merger talks between BAE and EADS, it is thought the focus might move to smaller defence deals.