The Takeovers Panel (Panel) has today published the reasons for its decision in relation to an application dated 23 February 2007 from Magna Pacific (Holdings) Limited (Magna Pacific) concerning an off-market takeover bid for Magna Pacific by Lionsgate Australia Pty Ltd (see TP07/07).

The Takeovers Panel advises that it has agreed to Lionsgate Australia Pty Ltd withdrawing its application to the Panel dated 12 April 2007 in relation to Magna Pacific (Holdings) Limited's target's statement (see TP07/17).

The Takeovers Panel advises that it received an application yesterday from Airline Partners Australia Limited (APA) for review of the decision made by the sitting Panel in the Qantas Airways Limited 02 proceedings.

The Takeovers Panel advises that it received an application yesterday from Airline Partners Australia Limited concerning APA's off-market, cash takeover bid for Qantas Airways Limited (Offer).

The Takeovers Panel has considered the application (the Application) from Louis Dreyfus Cotton International NV, a company incorporated in Belgium, under section 657C of the Corporations Act 2001 (Cth) dated 16 April 2007 in relation to the affairs of Queensland Cotton Holdings Limited.

The Takeovers Panel refers to the application from Arrow Taxi Services Limited (Arrow Taxi) dated 4 April 2007 (Arrow Taxi 01 Application) in relation to a proposed takeover bid by Kangaroo Petroleum Co. Pty Limited (KPC and Bid) (TP07/13).

The Takeovers Panel advises that it received an application late yesterday from Areva NC Australia Pty Ltd in relation to the affairs of Summit Resources Limited.

The Takeovers Panel notes the decision of the Full Court of the Federal Court in Australian Pipeline Limited v Alinta Limited [2007] FCAFC 55 which was handed down on Friday 20 April 2007.

The Takeovers Panel has today published its reasons for its decision in relation to an application from the Australian International Pilots Association in relation to an off-market takeover bid for Qantas Airways Limited by Airline Partners Australia Limited (see TP07/08). Details of the Panel's decision were announced on 20 March 2007 in Panel media release TP07/10.