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

 

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: