Peter Warren Automotive Holdings (ASX:PWR) said its proposed acquisition of Wakeling Automotive remains ongoing but is subject to increased uncertainty after vendors declined to extend the July 2 sunset date, according to a Thursday Australian bourse filing.

The transaction remains subject to customary conditions, including Australian Competition and Consumer Commission (ACCC) approval and other third-party consents, and may be terminated by either party if these are not satisfied or waived by the specified date, per the filing.

The sunset date was extended to July 2 from May 2 by mutual agreement to allow completion of the ACCC's phase one review, the filing said.

The company's shares fell 1% in recent Thursday trade.