Boral Ltd has extended its takeover offer for Adelaide Brighton Ltd by about three months.
The offer is now scheduled to close on 8 October and Boral will consider around the end of September whether to extend it further.
The offer remains subject to all conditions set out in the bidder’s statement, which includes the ACCC condition.
On 4 June, the Australian Competition & Consumer Commission initiated proceedings against Boral in the Federal Court of Australia over its proposed acquisition of Adelaide Brighton.
Consistent with Boral’s intention to seek an early resolution of the competition issues involved, the Federal Court has expedited the timetable for the proceedings.
The timetable currently anticipated allows for a trial to start in the third quarter and conclude in the fourth quarter of 2004.