Panel Publishes Reasons for Decision in Normandy No.4
The Panel advises that it has today published the reasons for its decision in the Normandy No.4 proceedings.
Application by Magic Millions for Review of Panel's Decision in Brisbane Broncos Nos 1 and 2
The Panel advises that it yesterday received an application from Magic Millions under section 657EA of the Corporations Act requesting a review of its decisions in the Brisbane Broncos Nos 1 and 2 proceedings.
Panel Decision in Relation to Magic Millions League Takeover Bid For Brisbane Broncos and BB Sports Bid Condition
The Panel advises that it has today reached a decision in relation to the application concerning the announcement by Magic Millions League Pty Ltd that its proposed takeover offer for the Brisbane Broncos Ltd will not proceed (Brisbane Broncos No.1) and the cross-application concerning a condition of BB Sports Pty Ltd takeover offer for the Brisbane Broncos Ltd (Brisbane Broncos No.2).
Application from BB Sports in Relation to Magic Millions League Takeover Bid for Brisbane Broncos
The Panel advises that it has received an application for a declaration of unacceptable circumstances and orders under sections 657A and 657D(2) of the Corporations Act from BB Sports Pty Ltd (a subsidiary of The News Corporation Ltd). The application relates to the announcement by Magic Millions League Pty Ltd on 17 December 2001 that its proposed takeover offer for the Brisbane Broncos Ltd will not proceed.
Normandy 06 - Panel Declines Application for Review of Normandy 04 Decision
The Panel advises that it has today declined to make a declaration of unacceptable circumstances or orders in relation to the application by AngloGold for review of the Normandy 04 Panel's decision. In its application, AngloGold submitted that Newmont had agreed to give more to Franco-Nevada for its 19.9% holding in Normandy than it proposes to offer to Normandy shareholders under its bid for Normandy, because the acquisition of the 19.9% parcel is tied to a proposed merger between Newmont and Franco-Nevada.
Application for Review of Normandy 04 Decision
The Panel advises that it has today received an application for review of its decision of yesterday 12 December to decline AngloGold's application for a declaration of unacceptable circumstances. AngloGold applied on 29 November for a declaration of unacceptable circumstances.
Panel Declines Anglogold Application on Franco Benefit Issue
The Takeovers Panel announced today that it has declined an application by AngloGold for a declaration of unacceptable circumstances in relation to Newmont Mining's proposed bid for Normandy Mining. The application (Normandy 04) related to the value offered indirectly to Franco-Nevada shareholders for their interests in Franco-Nevada's 19.9% holding in Normandy (under the proposed Canadian law Plan of Arrangement) compared to the value offered directly to Normandy shareholders for their Normandy shares under Newmont's bid for Normandy.
Normandy Mining Limited 01
An application under section 657E of the Corporations Act by AngloGold Limited (AngloGold) for an interim order to restrain dispatch by Normandy Mining Limited (Normandy) of its target’s statement to Normandy shareholders in response to AngloGold’s bid for Normandy. The Panel made interim orders on Thursday, 22 November 2001 restraining dispatch of the target’s statement until 5.00pm Monday, 26 November. The Panel declined to make a declaration of unacceptable circumstances in relation to the disclosures made in Normandy’s target’s statement.
Panel Publishes Reasons for Decision on Normandy Target's Statement
The Panel advises that it has today published the reasons for its decision to lift the interim order that it made on 22 November 2001 restraining dispatch of Normandy's target's statement in response to AngloGold' bid. Anglogold had applied to the Panel for interim orders concerning Normandy's target's statement.
Normandy Nos. 3 & 4 - Break Fees and Collateral Benefit
The Panel advises that it has declined to make a declaration of unacceptable circumstances in relation to one of the applications by AngloGold concerning the proposed bid by Newmont Mining Corporation for Normandy Mining (the Normandy No. 3 application).