The board of Green Property has announced that its offer for Trafford Park Estates, which values the company at around £146 million, has been extended and the next closing date will be on June 26th, 1998.

Green also said that it had received acceptances in respect of 0.61 per cent of the issued share capital of Trafford Park Estates by the first closing date of the offer yesterday.

"The level of acceptances is consistent with this stage of an offer," Green managing director, Mr Stephen Vernon said. "We remain of the view that our offer fairly reflects the value of Trafford Park Estates and represents a very attractive opportunity for Trafford Park Estates shareholders."

The board of Trafford Park Estates has rejected Green's bid, saying that it undervalues the company.