Village Roadshow (VRL) has extended its offer for Sydney Attractions Group (SAQ) by one month to 14 January 2008.
However, the board encourages shareholders to reject the offer.
"The majority of our shareholders concur with the view of SAQ's Board that $6.50 is simply not enough to hand over control of these valuable assets," chief executive officer of Sydney Attractions Group Kevin Bush said.
"SAQ shareholders would be best served by holding onto their shares and participating in the significant growth opportunities of the group," he added.
Village is offering SAQ shareholders $6.50 per share in its improved offer.
Shares in Village Roadshow had added 3 cents to $3.18 by midday AEST.
Sydney Attractions Group shares remained flat at $6.50.
