Gary Peart, chief executive officer of Mayberry Investments. The Mayberry offer for Salada is now valued at $212 million. - File

Mayberry Investments Limited has extended its cash offer for 51 per cent of Salada's shares by one week, saying the company's shareholders may require additional time to make an informed decision.

The $40.08 per share bid will now close this Friday, October 5. It was initially to close Sep-tember 28.

Three Bears, which owns 60.23 per cent of the company, has said it has no plans to sell to Mayberry, which has a minor 0.3 per cent of Salada.

Three Bear's mandatory offer of $25.82 has now closed.

Expectations are the offer - which Three Bears itself had attempted to dissuade share-holders from accepting, saying it had no interest in taking a bigger share of the coffee company - would have had little, if any, take up.

With just under 10.39 Salada shares currently outstanding, Mayberry's cash bid is valued at approximately $212.3 million.

The takeover offer per share values the company at $416 million against its current stock market value of $696 million or $67 per share.

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