TP09/007
The Panel has consented to the withdrawal of the undertakings provided on 18 December 2008 by CBH Resources Limited and its wholly owned subsidiary Broken Hill Operations Pty Limited in Perilya Limited 01 (see TP08/112). Its consent is conditional on the Australian Securities and Investments Commission allowing BHO to withdraw its bid.
In Perilya Limited 01, the Panel decided not to make a declaration of unacceptable circumstances on the basis of CBH and BHO's undertaking to provide to Perilya shareholders a supplementary bidder's statement and withdrawal rights (to any Perilya shareholder who had accepted the offer prior to the release of the supplementary bidder's statement).
On 21 January 2009 CBH announced that it and BHO would not be proceeding with the bid for Perilya, and on 23 January sought the Panel's consent to withdraw the undertakings on the basis that they are now redundant.
Allan Bulman
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au
