Department store group Bon Stores Inc on Wednesday announced it had extended its tender offer to acquire rival chain Elder-Beerman Inc until October 24 in order to collect the remaining untendered shares.

The Pennsylvania-based company said in a short statement that as of Tuesday, 10.9 million Elder-Beerman shares, or 82 per cent of the company's diluted shares outstanding, had been tendered and not withdrawn.

Bon-Ton's $93 million bid for the Ohio-based operator of 68 stores was accepted last month following a fierce bidding war.