Axis Capital to Seek Adjournment of Bawag-PTSB Scheme Proceedings Following Potential Offer

10:24 AM EDT, 10/22/2026 (MT Newswires) -- Axis Capital plans to ask Ireland's High Court for a defined adjournment of the proceedings tied to the scheme of arrangement for Bawag's (BG.VI) proposed acquisition of Permanent TSB Group Holdings (PTSB.L, PTSB.IR). Axis said Thursday it is seeking up to six weeks of adjournment, with a progress report to the court after four weeks, so it can carry out confirmatory due diligence work on its possible 3.20-euro-per-share cash offer for the Irish financial services company. The latest suitor, which announced its potential offer on Oct. 2, said PTSB has not met with it after it requested a meeting with the target's chair. Axis added that PTSB has not provided the due diligence information that was previously provided to Bawag.