Private equity firm Pacific Equity Partners has extended its offer period for provider of renewable energy, Energy Developments Ltd (ASX:ENE) for a second time.
The offer to acquire all of Energy Development’s shares for $2.76 a share has now been extended to February 16 2010.
On February 1, Pacific Equity Partners increased its offer for the company to $2.76 a share declaring the offer price final.
As of February 1, Pacific Equity Partners had a relevant interest in Energy Developments of 67.15%.
However, Energy Developments largest shareholder, Investors Mutual, says it does not intend to accept the revised offer.
Energy Developments reported a profit for the 12 months to June 30, 2009.