Review Panel Restrains Dispatch of Smorgon Bidder's Statement
The first Takeovers Panel Review Panel today announced that it had ordered Smorgon Distribution Ltd (Smorgon) to delay until 5.00 p.m. on Monday 22 May the dispatch of the bidder’s statement in relation to its offers for all of the ordinary shares in Email Ltd (Email). Amongst other things, Email had applied to the Panel for an interim order under section 657E of the Corporations Law (Law) for dispatch of the bidder’s statement to be restrained until Email’s application had been fully resolved.