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Panel declines GPG Forests Limited’s request
Panel declines GPG Forests Limited’s request
The
Takeovers Panel has declined a request from GPG Forests
Limited to hold a meeting under section 32 of the Takeovers
Act relating to certain actions taken by Rubicon Limited
with respect to GPG’s prospective amended takeover offer for
Rubicon.
The Panel met today and considers that Rubicon
had not taken or permitted any action that could, in terms
of rule 38 of the Takeovers Code:
· effectively result in
GPG’s prospective offer being frustrated; or
· deny the
holders of Rubicon’s equity securities an opportunity to
decide on the merits of GPG’s prospective
offer.
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