Talks between the Globe and Mail's management and the union representing 480 of its workers have been extended for two days until midnight Thursday night.

In a statement, Local 87-M of the Communications, Energy and Paperworkers Union, which represents the newspaper's newsroom, sales and circulation employees, said "there will be no strike, lockout or work-to-rule action earlier than midnight Thursday."

The union confirmed that veteran Toronto mediator William Kaplan, who has arbitrated talks between Air Canada and its unions, will oversee the last-minute negotiations.

Last Saturday, 89 per cent of the unionized workers voted to reject the newspaper's latest offer, which proposed a five-year contract instead of the previous six-year deal.

It also offered to allow employees to stay in a defined-benefit pension plan, in which employees are guaranteed a set income at retirement, instead of moving them into a defined contribution plan.

In an email on Monday, the union told its members to prepare for strike action if the current talks fail to produce a deal.