Panel's Reasons in Relation to Troy Resources' bidder's statement

The Takeovers Panel has today published its reasons for its decision to decline to make a declaration of unacceptable circumstances in relation to Troy Resources bidder's statement dated 2 November in its first takeover bid for Taipan Resources.

The decision was formally made on 19 December 2000 after the Panel advised parties on 13 December that it saw little value in further enquiries in the matter. On 16 November, the Panel had announced that it had declined to restrain dispatch of Troy's bidder's statement. Taipan applied to the Panel on 16 November.