Anaconda Nickel Limited 01-19 - Panel Publishes Reasons in Anaconda 01 to 19 [15/07/2003] The Takeovers Panel

Tuesday, 15 July 2003

PANEL PUBLISHES REASONS IN ANACONDA 01 TO 19

The Panel has today published the reasons for its decision in the Anaconda 01 to 19 proceedings.

The table set out in the Annexure lists each of the applications and sets out the identity of the applicant, the date on which the application was made and the date on which the application was withdrawn or determined.

The 19 applications in relation to Anaconda Nickel Limited (Anaconda) were made to the Panel in the period between 21 January 2003 and 11 April 2003. The applications were made by various persons and related to various matters in relation to Anaconda, including a rights issue by Anaconda and a takeover offer by MatlinPatterson Global Opportunities Partners LP for the Anaconda rights and also the Anaconda shares in existence prior to completion of the rights issue.

The Panel announced its decisions in relation to the various applications between 31 January 2003 and 12 May 2003.

The sitting Panel in the Anaconda 01 to 05, 08, 11, 12 and 14 to 17 proceedings was Brett Heading (sitting President), Tro Kortian (sitting Deputy President) and Peter Scott.

The review Panel in the Anaconda 06, 07, 09, 13, 18 and 19 proceedings was Simon McKeon (sitting President), David Gonski (sitting Deputy President) and Ian Ramsay.

In relation to the Anaconda 10 proceedings, the President of the Panel considered the timing issues involved in the application and considered that it was unlikely that the Panel would be able to assemble a Sitting Panel to consider the application within the time required. He therefore determined the proceedings sitting as the substantive Panel President.

The reasons are available on the Panel's website at:
http://www.takeovers.gov.au

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

Annexure

Application

Applicant

Date of application

Date of withdrawal (W)/ determination (D)

Anaconda 01

MatlinPatterson Global Opportunities Partners LP (MP Global)

21 January 2003

31 January 2003 (W)

Anaconda 02

Metal Holdings Pty Ltd

28 January 2003

6 February 2003 (D)

Anaconda 03

MP Global

29 January 2003

Combined as ANL 02 - 05

Anaconda 04

Glencore International AG (Glencore)

29 January 2003

Combined as ANL 02 - 05

Anaconda 05

Anaconda

29 January 2003

Combined as ANL 02 - 05

Anaconda 061

MP Global

6 February 2003

7 February 2003 (D)

Anaconda 072

Anaconda

6 February 2003

Combined with ANL 06

Anaconda 08

Glencore

8 February 2003

11 February 2003 (D)

Anaconda 093

Glencore

11 February 2003

12 February 2003 (D)

Anaconda 10

Anaconda

11 February 2003

12 February 2003 (D)

Anaconda 11

Anaconda

12 February 2003

13 February 2003 (W)

Anaconda 12

MP Global

13 February 2003

13 February 2003 (D)

Anaconda 134

MP Global

13 February 2003

13 February 2003 (D)

Anaconda 14

MP Global

13 February 2003

14 February 2003 (W)

Anaconda 15

MP Global

20 February 2003

9 April 2003 (D)

Anaconda 16

Anaconda

21 February 2003

12 March 2003 (D)

Anaconda 17

Glencore

21 February 2003

Combined with ANL 16

Anaconda 185

MP Global

11 March 2003

10 April 2003 (D)

Anaconda 196

MP Global

11 April 2003

12 May 2003 (D)

  1. Appeal in relation to the interim orders in the Anaconda 02 to 05 proceedings.
  2. Appeal in relation to the interim orders in the Anaconda 02 to 05 proceedings.
  3. Appeal in relation to the Anaconda 08 proceedings.
  4. Appeal in relation to the first instance Panel's decision not to allow MP Global to vary an undertaking given in the Anaconda 08 proceedings.
  5. Appeal in relation to the Anaconda 16 to 17 proceedings.
  6. Appeal in relation to the Anaconda 15 proceedings.