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


Court upholds Takeovers Panel’s application

7 October 2005

Court upholds Takeovers Panel’s application for orders restraining Delegat’s and Oyster Bay

The High Court in Wellington today issued interim orders relating to the disputed partial takeover offer for Oyster Bay Marlborough Vineyards Limited by Delegat’s Wine Estate Limited.

In today’s hearing Justice Miller considered the proceedings filed by the Panel yesterday, seeking the orders.

The orders:

- restrain Delegat’s from acquiring any securities in Oyster Bay, or any interest in or rights relating to such securities; and

- direct Oyster Bay not to register the transfer or transmission of any securities arising from Delegat’s takeover offer.

The orders remain in force until any further orders of the Court.

Delegat’s application for a judicial review of the orders made by the Panel on 22nd September 2005 was also heard today. Justice Miller found that that application must fail.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: 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>>

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>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news