Goodman Fielder 01 – Panel Declines Application for Interim Order Restraining Burns Philip Bidder's Statement [02/01/2003] The Takeovers Panel

02 January 2003

PANEL DECLINES APPLICATION FOR INTERIM ORDER
RESTRAINING BURNS PHILP BIDDER'S STATEMENT

The Panel advises that it has today declined an application from Goodman Fielder Ltd (Goodman Fielder) for interim relief in relation to the bidder's statement in the proposed takeover bid for Goodman Fielder by BPC1 Pty Ltd (Burns Philp) (a subsidiary of Burns, Philp & Company Ltd).

Goodman Fielder' full application seeks a declaration of unacceptable circumstances, interim orders restraining the dispatch of the Burns Philp bidder's statement until the Panel has finally determined the application, and final orders in relation to various conditions proposed to be in the Burns Philp bid. Today's decision is only in relation to the interim order.

Burns Philp is therefore free to dispatch its bidder's statement from tomorrow.

The Panel is currently considering the other issues raised in Goodman Fielder's application

The President of the Panel has appointed Ilana Atlas, Michael Tilley and Marian Micalizzi to be the Sitting Panel to consider the application.

Nigel Morris
Director, Takeovers Panel
Level 47 Nauru House
80 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3501
nigel.morris@takeovers.gov.au