Panel Accepts Undertaking by Magic Millions for Increased, Conditional, Full Offer for Broncos
The Panel advises that it has accepted undertakings from Magic Millions in relation to Magic Millions' application under section 657EA of the Corporations Act requesting a review of the decisions in the Brisbane Broncos Nos 1 and 2 proceedings. This follows protracted consultation with the parties in the contested takeover, and a further application to the Panel.
Magic Millions has undertaken to make offers to Broncos shareholders for all of their shares at a bid price of 18 cents.