Kidicorp takeover offer extended

Positive Educare has extended its takeover offer for childcare centre operator Kidicorp until August 17.

The 24c per share offer was due to close on July 31, but chief executive Wayne Wright said it had been extended to give people more time to digest the independent directors' recommendation.

So far Positive Educare, which is wholly owned by Wright's Mitchell Investment Trust, has secured just over 75 per cent of Kidicorp but the offer is conditional on reaching 90 per cent.

Mitchell owns just over 54 per cent of Kidicorp.

Shares in Kidicorp were untraded yesterday at 23c.