Theo Fennell suitor given more time to declare intentions

Jeweller to the stars Theo Fennell has asked for its suitor to be given more time to declare whether it will press ahead with an offer for the company.

The retailer, whose customers have included Victoria Beckham, Lady Gaga and Elton John, revealed in September that it was in early-stage talks that could lead to a takeover by EME Capital, a London-based boutique finance house.

EME was initially given until 3 October to either make an offer or walk away, but the deadline has been extended six times since then and today Theo Fennell said its board had asked the Takeover Panel to give EME yet more time to declare its intentions.

EME now has until 5pm on 28 June to announce whether it will make a bid, although Theo Fennell pointed out that there was no certainty that an offer would be forthcoming.

The jeweller added: “The company remains in offer discussions with EME who are currently reviewing information which has been made available by the company. The anticipated timetable for the completion of these discussions is consistent with the newly extended deadline.”