Riley and investors given extra time to mull Daisy buy

Trio has until 22 September to make its intentions clear

Daisy chief executive Matt Riley and an investor duo have been given an extra seven working days to decide if they want to make a takeover bid for the firm.

Last month, a stock exchange announcement revealed that Riley (pictured), along with investors Toscafund and Pental Capital, were weighing up a 190p-a-share offer for the comms VAR.

The trio had been given until today to make up their minds, but an investor update this morning shows that deadline has been extended until 22 September.

"Toscafund, Penta and Matthew Riley must, by not later than 5pm on 22 September 2014, either announce a firm intention to make an offer for Daisy... or announce that they do not intend to make an offer," the announcement said.

It added that there "can be no certainty that a firm offer will be made nor as to the terms on which any offer might be made".

Daisy is no stranger to takeover bids – earlier this year, reports claim global cable firm and Virgin Media owners Liberty Group had been in talks to buy the UK firm for more than £500m before negotiations ended after the pair could not agree on a price.