The Takeovers Panel has received an application from Centrebet International Limited in relation to the affairs of International All Sports Limited. Centrebet today announced a cash takeover offer for all of the shares in IAS.
The announcement refers to confidentiality and standstill obligations in relation to IAS to which Centrebet has agreed. Centrebet submits that the obligations go beyond what is necessary to protect IAS. It submits that they are anti-competitive and frustrate the making of a genuine takeover bid for IAS.
Centrebet seeks final orders, including that the obligations are void and unenforceable.
A sitting Panel has not been appointed at this stage and no decision has been made as to whether to conduct proceedings. The Panel makes no comment on the merits of the application.
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3597