Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Takeovers Panel to meet on Tenon / Rubicon matter

News Release
14 May 2004

Takeovers Panel to meet on Tenon / Rubicon matter

Rubicon has asked the Takeovers Panel to convene a meeting under section 32(1) of the Takeovers Act 1993 relating to certain actions allegedly taken by the directors of Tenon in response to Rubicon’s partial takeover offer.

The Panel has considered Rubicon’s request and decided to hold a meeting on 19 May 2004.

Rubicon’s partial takeover offer dated 5 May 2004 was sent to Tenon and to the Panel. The offer contains a number of conditions.

Rubicon alleges that certain behaviour on the part of Tenon’s directors in response to conditions in the offer constitutes “defensive tactics” for the purposes of rule 38 of the Code in that it could frustrate the offer and/or deny Tenon’s shareholders the opportunity to decide on the merits of the offer.

The meeting will be held at 10.00 a.m. on Wednesday 19 May 2004 in Auckland. The meeting will be a private meeting.

The notice of meeting is published on the Panel’s website www.takeovers.govt.nz.

* * * * *


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news