Pacific Equity Partners extends its offer for Energy Developments Ltd (ASX:ENE)

08/02/2010 00:00:00

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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.