TP03/010
The Panel advises that it has accepted undertakings from Goodman Fielder Ltd. (Goodman Fielder) in relation to the takeover bid by BPC1 Pty Ltd. (Burns Philp) (a subsidiary of Burns, Philp & Company Ltd).
To assist the conduct of the Panel's proceedings, Goodman Fielder has provided an undertaking to the Panel in relation to various advertisements and communications to shareholders concerning Burns Philp's takeover offer which are currently in dispute between the parties in the proceedings.
On the basis of the undertakings from Goodman Fielder, the Panel has declined the application for interim orders from Burns Philp in relation to the proposed takeover bid for Goodman Fielder by Burns Philp, which the Panel received on 20 January 2003.
The Panel is currently considering the issues raised in Burns Philp'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
