It is understood Posco requested Senex Energy give it more time...

It is understood Posco requested Senex Energy give it more time to firm up its $4.60 a share (plus 5¢ dividend) over the weekend, citing its own internal approval processes for the delay.The request put Senex Energy’s board in a bit of a bind. The company had already extended Posco’s exclusivity twice, although obtained bumps each time to get Posco’s offer to a level it would be happy to recommend to shareholders. Australia’s Senex Energy and suitor Posco have kicked their mooted $890 million deal down the road, promising to put pen to paper next month.