Pod offer extended

LWR Manufacturing has extended its $22.5 million offer again for textile design company Pod, and hopes a key shareholder's acceptance will prompt other investors to follow suit.

Salvus Strategic Investments said yesterday it intended to sell its 5.7 per cent stake into LWR's 50c-a-share takeover offer, boosting acceptances to just over 70 per cent. LWR launched its bid in June, conditional on reaching 90 per cent, and has extended it until August 30.