Put up or shut up ultimatum for private equity bidder
The London Stock Exchange Takeover Panel has given Apax Partners until 12 noon Wednesday March 21 to either resubmit its bid for Woolworths or bow out. No extension to this deadline will be given to Apax.

Should the finance business announce it is no longer interested in acquiring Woolworths, but then wishes to mount another bid in the future, it will have to wait for six months after the announcement.

The Takeover Panel said that both Apax and Woolworths have agreed to the date set