Standard Life offer extended

STANDARD Life has extended the deadline of its cash offer for Focus Solutions after failing to gain acceptances on all Focus’ shares.

It received acceptances from shareholders holding 82.7 per cent of Focus by the offer’s initial closing date of 31 December. It has now extended the deadline until 1pm on 14 January.

The original offer of 140p a share was announced on 10 December and valued Focus at £42m.

Shore Capital analyst Eamonn Flanagan said the extension was a normal book-keeping exercise and the offer should reach full acceptance.