Internet startup Freecom.net has given Pegasus shareholders until next Wednesday to accept its buyout offer over rival bidder Solution 6.
The startup's offer stands at 685p per Pegasus share against Solution 6's 430p per share based on yesterday's closing prices.
Freecom.net seems the likeliest suitor for the Pegasus hand which has already turned down overtures from rival UK asset management and payroll software specialist Sage.
Not surprisingly Pegasus says that Freecom.net's offer is fair and reasonable, and has withdrawn its unqualified support for Solution 6's offer.
In a letter to shareholders Freecom.net chief executive Michael Williams said: "Whichever way you cut it our offer is 255p per share more than Solution 6's, and Solution 6's offer is 200p per share less than Pegasus' market price.
"Uncertainty can do Pegasus no good. We urge shareholders to accept our offer as soon as possible and not later than 3pm (GMT) next Wednesday, 2 February."
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