July 8 - The UK Takeover Panel on Wednesday further extended
until July 15 the deadline for a consortium of KKR and
Energy Capital Partners to make a firm offer for DCC,
the Irish energy distributor said.
The extension comes over a month after the London-listed
company announced its backing to the U.S. investment firms'
sweetened £5.7 billion ($7.62 billion) proposal, when the
deadline was pushed to July 8.
* The revised proposal comprises £65.25 in cash and DCC's
proposed final dividend of 147.22 pence per share.
* DCC earlier rejected the consortium's £4.95-billion
proposal, saying it undervalued the company.
* Financial Times reported earlier this month that some of
DCC's largest shareholders, including Fidelity International,
Aviva Investors and Ninety One, opposed the revised bid, saying
the offer undervalued the company.
* DCC has been simplifying operations and sharpening focus
on its core energy business by stepping up acquisitions in
Europe's liquid gas markets and divesting non-core units such as
healthcare and technology.
($1 = 0.7485 pounds)
(Reporting by Sri Hari N S in Bengaluru; Editing by Joyjeet
Das)