Minority Parkway Holdings (P27.SG) shareholders hoping for Khazanah to counter Fortis Healthcare’s (532843.BY) $3.80/share general offer will have to keep waiting as sovereign wealth fund has extended deadline for partial takeover bid to July 26 from today, according to Dow Jones.

No reason given but move not surprising given Fortis’ earlier-than-expected response last week to Securities Industry Council’s July 30 deadline to unveil whether it will make general offer following widespread speculation last month.

“They probably had a sense of the response to their partial offer after Fortis launched a general offer, which was regarded as superior. Khazanah is buying time as it’s reported that they’re speaking to a few banks to line up finances for a general offer,” says an analyst at a Singapore brokerage.

Khazanah has so far received only 4.5% acceptance for its bid. Parkway shares +0.3% at $3.88, still above Fortis’ offer price, indicating market remains hopeful of Khazanah counter.