The Takeovers Panel (the Panel) has today published the reasons for its decision to consent to the withdrawal of the application (the Application) from Skywest Limited (Skywest) dated 11 June 2004 alleging unacceptable circumstances in relation to the off-market takeover bid by CaptiveVision Capital Limited (CVC) for all the fully paid ordinary shares in Skywest.
On 22 June 2004, Skywest requested the Panel’s consent to withdraw their application following negotiations between Skywest and CVC resulting in CVC providing an undertaking to Skywest which substantially provided Skywest with the relief sought in the application.
Details of the Panel’s decision were announced on 28 June 2004 in Panel media release TP04/49, available on the Panel’s website at: Media Releases.
The sitting Panel was Brett Heading, Braddon Jolley and Carol Buys.
The reasons of the Panel are available on the Panel’s website at: Decisions.
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3553