19 Oct 2009

Marlborough Lines offer deadline extended

1:46 pm on 19 October 2009

Marlborough Lines has pushed back the deadline for investors to accept its $3.96-a-share offer for a majority stake in Horizon Energy Distribution by a month.

Horizon has recommended shareholders reject the bid, saying it's too low.

Key shareholder Eastern Bay Energy Trust , which owns 77% of Horizon, was considering the offer on Monday.

Marlborough Line's offer now closes at the end of November.