AA plc (LSE:AA.) said on September 29, 2020 that it has obtained a formal extension to October 27 of the deadline by which a consortium of TowerBrook Capital Partners L.P. and Warburg Pincus LLC has to either lodge a takeover offer or abandon the bid. The UK Takeover Panel granted the extension beyond the original deadline of September 29, 2020 at the AA's request. Talks between the AA and the investor group are ongoing, with due diligence checks still being performed, the AA added. There is still no certainty of the consortium tabling a final proposal or of the financial terms of one, the target company cautioned. Towerbrook Capital and Warburg Pincus on emerged as sole bidders for the UK road assistance provider after Centerbridge Partners, L.P. and Platinum Equity Advisors, LLC opted to walk away.