|
contents | business | |||||||||
| Hochtief intends to apply for decision from Takeovers Panel Following the decision by the Australian Securities and Investments Committee (ASIC) not to require the Spanish construction company Actividades de Construcción y Servicios (ACS) to submit a takeover offer for Leighton Holdings, it is now up to Australia's Takeovers Panel to make such decision. Hochtief intends to apply to the Takeovers Panel with a view to requiring ACS to make an offer to Leighton shareholders. The Takeovers Panel is the primary forum in Australia for decisions in connection with takeover offers. The Panel has a total of 54 members coming from law firms, accounting firms, financial institutions and companies. Three members will be appointed to decide on Hochtief's application. In accordance with the Panel's rules, Hochtief will not make any statement on the proceedings until they have been determined by the Panel. write your comments about the article :: © 2010 Construction News :: home page |