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BTP doesn't close Image takeover, talks continue

Fri Feb 1, 2008 9:46pm EST

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NEW YORK, Feb 1 (Reuters) - Image Entertainment Inc. (DISK.O), a distributor of home entertainment programming, on Friday said its pending acquisition by BTP Acquisition Co did not close as scheduled, but that discussions would be extended until Feb. 5.

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Image said representatives of the two parties met Friday to discuss the status of the transaction and agreed to extend the outside closing date set in the merger pact. Image said it expects to determine the final status of the merger on Feb. 5. (Reporting by Joseph A. Giannone; editing by Carol Bishopric)

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