AUSTRALIA: ALG takeover fight headed for the courts

By Tony Baker | 2 August 2001

The A$54 million (US$28m) dispute between Australian retailer Coles Myer and its takeover target retailer Australian Liquor Group is headed for the courts. Following an interim ruling by the Corporations and Securities Panel, seeking further evidence, Coles Myer said its Liquorland subsidiary had issued proceedings in the state Victorian Supreme Court.

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The A$54 million (US$28m) dispute between Australian retailer Coles Myer and its takeover target retailer Australian Liquor Group is headed for the courts. Following an interim ruling by the Corporations and Securities Panel, seeking further evidence, Coles Myer said its Liquorland subsidiary had issued proceedings in the state Victorian Supreme Court.

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