Second period of extra time for Goals Soccer Centres bid

A Canadian pension fund was today given a further extension to the deadline for it to either make a takeover offer for East Kilbride-based five-a-side football pitch operator Goals Soccer Centres or leave the field of play.

The Takeover Panel has given the private equity arm of the Ontario Teachers’ Pension Plan (OTPP) until 5pm on 11 June to consider making an offer.

News that OTPP had made an informal approach to Goals came on 2 April, with the Takeover Panel originally setting a deadline of 30 April for the fund to “put up or shut up”, before a two-week extension was granted.

One analyst said he thought the company was worth “at least” 150p a share, valuing it at just under £73 million, but traders have speculated that a lower offer – at around 130p a share – could be made, with the management team being kept in place.

Goals said: “The company remains in offer discussions with the OTPP, which is currently reviewing information that has been made available to it, subject to strict terms of confidentiality, by the company.

“The anticipated timetable for the completion of these discussions is consistent with the extended deadline.

“There is no certainty that an offer will be made for the company nor as to the terms on which any offer might be made.”