Roland DG Corporation has today extended talks over a potential takeover, with a hostile bid from Brother Industries competing against a management buy-out team.

Roland DG issued a statement that it was continuing to have discussions with Brother Industries over its tender offer to buy all common shares for ¥5,200 (£27.31) per share.

Brother unexpectedly came forward with a rival tender offer in March that was ¥165 (87p) higher than an existing offer from XYZ KK which represents the management buyout (MBO).

XYZ today announced it was extending the tender offer period until 26 April.

The board previously advised shareholders to back the MBO but it has now warned that this recommendation might change after discussions with Brother Industries.

Both companies have their headquarters in Japan and specialise in digital print technology.