The UK Takeover Panel has set a deadline of 5 p.m. on Jul. 13 for Centrica to make a firm bid for UK independent Venture Production or withdraw from the deal. The panel, which oversees corporate mergers and acquisitions in the UK, imposed the deadline at the request of Venture's management. Centrica acquired 22.3% of Venture in March and said it might bid for the entire company (IOD Mar.19,p4).
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