Panel publishes reasons in Infratil Matter [21/06/2000] The Takeovers Panel

Wednesday, 21 June 2000

Panel publishes reasons in Infratil Matter

The Takeovers Panel today advised that it has published its reasons for its decision not to make a declaration of unacceptable circumstances in relation to the bidder's statement of Australian Infrastructure Fund Limited (AIF ) in its bid for Infratil Australia Limited (Infratil ).

The Panel decided not to make a declaration of unacceptable circumstances, on the basis of an undertaking from AIF to provide an additional statement to go with the bidder's statement. The Panel reviewed the content of the additional statement, and the parties agreed to the contents. The Panel considered that under the proposal, shareholders of Infratil will have sufficient information to assess the merits of AIF's offer for Infratil shares.

The sitting Panel in the Infratil matter, comprised Mr Brett Heading, the sitting President, Ms Alice McCleary, deputy President, and Ms Jenny Seabrook. The application was lodged on 02 May, 2000, and the Panel gave its decision on 09 May, 2000.

The reasons are published on the Panel's website at http://www.takeovers.gov.au/Decisions/000510gdu-reasons.htm

Nigel Morris
Director, Corporations and Securities Panel
Level 47 Nauru House
80 Collins Street
(03) 9655 3501