Following the 24 February announcement of a possible Dixons-Carphone Warehouse merger further details emerge on the situation-- the Takeover Panel grants a negotiation extension.
Initially the Panel set a 24 March deadline for the deal to create a mega CE retailer worth around £3.5 billion. However the retailers "require more time to evaluate a potential merger of the two businesses," and thus deadline has been extended to 19 May 2014.
"Discussions are still ongoing and there can be no certainty that a firm offer will be made," a joint statement reads.
According to The Telegraph the two companies already agreed on leadership for the venture-- CPW founder Sir Charles Dunstone will chair, while Dixons boss Sebastian James is to become CEO. Reportedly discussions are also taking place regarding the placement of CPW outlets in Dixons stores, replacing an earlier Phones 4U agreement.
Should the merger take place it will create a combined business with over 1200 UK outlets, demanding possible investigation by competition authorities.
Go Dixons and Carphone Win Extension for Merger Talks (The Telegraph)
