SG Fleet Group (ASX:SGF) agreed to extend by one week the period of exclusivity granted to Pacific Equity Partners relating to the indicative proposal of the latter, according to a Friday filing with the Australian bourse.
The extension will enable both companies to finalize the terms of a scheme implementation deed, the filing said.
There is no certainty that the proposal will result in a transaction, per the filing.
SG Fleet Group's shares rose past 3% in recent Friday trade and earlier hit their highest level since October 2018.
Price (AUD): $3.36, Change: $+0.11, Percent Change: +3.38%
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