Endeavour said it had insufficient time before the current “put up or shut up” deadline of Dec. 31 to complete due diligence and asked Centamin to request the British takeover panel to extend the deadline to Jan. 31, 2020.
“Endeavour will only proceed if it can complete a proper and comprehensive due diligence exercise, including technical analysis and site visits,” it said.
Centamin said on Wednesday that Endeavour had indicated it would not provide the information the British company had requested unless it agrees to an extension of the deal deadline.
Reporting by Shanima A in Bengaluru; Editing by Saumyadeb Chakrabarty
Our Standards: The Thomson Reuters Trust Principles.