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New extension for possible deal between Straight and One51

The deadline for a potential takeover offer for bin manufacturer Straight plc has been postponed again.

Irish group One51 originally had until 14 March to make an offer or announce that it does not intend to do so. The deadline was first extended to 11 April and now has been moved again to 5pm on 25 April.

“One51 is continuing discussions with the board of Straight regarding a possible offer for the whole of the issued share capital of Straight,” the companies said in a joint statement.

The preliminary approach from One51 was announced to the London Stock Exchange on 14 February.

Straight said that new extension was not an announcement of a firm intention from One51 to make an offer.

Dublin-based One51 focuses on waste management and recycling, with injection moulder and bin manufacturing businesses included in its portfolio.

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