AOL, the Internet unit of media conglomerate Time Warner, has extended its $900 million cash offer for Swedish online marketing company TradeDoubler by several weeks to 14 March.
The takeover bid has faced resistance from enough shareholders to block the deal, which requires 90% acceptance under the terms agreed by the companies.
AOL, which is offering 215 crowns for each TradeDoubler share, did not say how many shares had been tendered to it so far.
TradeDoubler shares have been trading over the offer price since the deal was announced on 15 January as investors expect a sweetened bid. The shares closed at 227 crowns on Friday.
AOL has said it has no plans to raise the offer despite opposition to it from, among others, top shareholder Swedish pension group Alecta, which at the time of the offer said it owned 10.01% of TradeDoubler.
The acceptance period for the offer was originally scheduled to run until the week of 19 February.
AOL is hoping to combine TradeDoubler with its Advertising.com unit to help accelerate growth in Europe as it shifts from a subscriber model to one more reliant on advertising.
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