Panel Allows Dispatch of Smorgon Bidder's Statement With Additional Information

The Takeovers Panel today announced that it currently does not intend to make a declaration of unacceptable circumstances in relation to the bid by Smorgon Distribution Ltd (Smorgon) for all of the ordinary shares in Email Ltd (Email). The Panel said that its final decision is waiting on the release of two supplementary information documents by Smorgon. The first will be sent with Smorgon's bidder's statement, the second will be sent after release of Email's half yearly report. The Panel also ordered that Smorgon was now free to send out its bidder's statement and offers.