Waterfall Asset Management has been granted a sixth deadline extension to consider making a cash offer for the Pollen Street Secured Lending investment trust (PSSL).
A possible bid to acquire the alternative finance-focused fund has been on the table from Waterfall since February and it was initially due to make a decision by 24 March but that was extended to give more time for due diligence amid the pandemic.
There have since been extensions to 21 April, 19 May, 16 June, 14 July and 11 August.
The PSSL board has now granted an extension until 5pm on 8 September for Waterfall to decide on an offer.
A stock market update from PSSL said Waterfall was still keen and that it had the backing of the fund’s largest shareholder, Invesco.
Honeycomb said it had already won the support of some of its largest shareholders – Quilter Investors, Standard Life Aberdeen, Thesis Asset Management and AXA Investment Managers – for a deal.