Panel Publishes Reasons for Decision in the Matter of Vincorp Wineries Limited

The Takeovers Panel advises that it has today published the reasons for the Panel's decision to dismiss the application made by Vincorp Wineries Limited on 28 February 2001 in relation to the takeover offer made for Vincorp by Simon Gilbert Wines Limited.

On 26 March 2001, the Panel decided to dismiss the application following the announcement by Simon Gilbert Wines that a defeating condition of its bid would not be fulfilled and that all contracts and acceptances under the bid would therefore be void at the end of the offer period on 2 April 2001.