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Logistics firm Wincanton and offshore investment group Laxey Partners have been given until 20 June to announce a firm intention to make an offer for logistics company TDG.

Wincanton, which made an indicative cash offer of 290p per TDG share on 9 May, is carrying out due diligence on TDG, which operates contract packing services.

In a statement, Wincanton said it saw "attractive opportunities to generate significant profit improvement through both cost-driven synergies and operational efficiencies, and to create value through improved utilisation of the combined property portfolio".

Laxey Partners, which already owns around 22% of TDG's issued share capital, reiterated its interest in pursuing a possible cash offer for the logistics group on 9 May. Laxey said it would offer 275p per share.

TDG reported a pre-tax profit of £15.8m in 2007. It employs 7,000 staff in the UK, Ireland, Germany, Spain, Holland and Belgium.