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Mexico's Liverpool, Chile's Ripley extend merger deadline
April 27, 2017 / 1:59 PM / 8 months ago

Mexico's Liverpool, Chile's Ripley extend merger deadline

SANTIAGO, April 27 (Reuters) - Chilean retailer Ripley , which is being acquired by Mexican high-end department store chain Liverpool, said the companies had agreed to extend the deadline for the takeover bid.

In July, Liverpool announced a deal to buy Ripley by April 30, but Ripley said in a note to Chilean regulators on Thursday that the deadline had been extended to June 15.

The rest of the pact, which valued Ripley at 813 billion Chilean pesos ($1.2 billion), remains the same, the Chilean retailer added.

Ripley’s Santiago-listed shares were up 1.01 percent as of 10:53 a.m. local time (1353 GMT), while Liverpool’s Mexico-listed stock fell 1.33 percent.

$1=661.90 Chilean pesos Reporting by Antonio de la Jara; Writing by Gram Slattery; Editing by Lisa Von Ahn

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