80 Mile plc has announced an extension of the deadline for Greenland Energy Company to make a firm offer for the company, as due diligence and negotiations continue.
The new deadline is 5 p.m. London time on November 3, 2026, replacing the previous October 6 deadline. The extension was requested by 80 Mile and approved by the UK Takeover Panel.
The companies agreed to indicative terms for a proposed all-share acquisition on September 8. In its October 6 announcement, 80 Mile said both parties are conducting confirmatory due diligence and advancing negotiations on definitive transaction documents.
“We already know the business of 80 Mile well – we’ve been partners in Greenland since our inception. Bringing our two companies together would be a natural next step. Our businesses are closely aligned, and combining them would remove certain duplication while creating a single, stronger platform. What this transaction adds is financial strength: we bring a deeper shareholder base, which means the combined company would be far better positioned to fund growth than either of us could standalone,” said Robert Price, chief executive officer of Greenland Energy.
The announcement cited the cross-border nature of the transaction and the additional time needed for Greenland Energy Company to complete its due diligence.
GreenlandEnergy.com provides independent analysis of Greenland’s energy landscape, critical minerals development, and Arctic geopolitics. For corrections or feedback: press@greenlandenergy.com
READ NEXT: Mestersvig’s Military Future Could Reshape Access to East Greenland
