Alphyra MBO offer extended

The Alphyra management group which is buying out Alphyra has extended its offer until February 19.

The deadline for acceptance of the €2.45 per share offer was February 5, but by that date offers had been received from 34.6% of the shareholders.

In January US company First Data Corporation had put in an indicative bid for the company of €2.80 but this bid was withdrawn last week.

Rendina, the buyout vehicle for the Alphyra management team hoping to acquire the company, had said that the offer would be treated as hostile. Rendina is led by CEO of Alphyra John Nagle.