option agreement with tibotec extended, page-5

This extension (rather than deal) announcement is annoying, but isn't a big drama. There have been some unexpected but minor delays with the lawyers and the internal reshuffling at johnson and Johnson has also caused delays. In practical terms, they are already well into the second option and the companies see the 4 month extension (from nov remember) to be erring on the side of caution. Tibotec and avx are happy with this deal and are simply saying that it's moving a bit slower than they expected.