AUSTRALIA: Extension for ALG takeover objections
By Tony Baker | 19 July 2001
Australia's Corporations and Securities Panel has given objections to the takeover of Australian Liquor Group by Liqourland, a subsidiary of Coley-Myer, a formal two-week extension. It said it would seek and consider further submissions over the next 14 days. Liquorland claims that disclosures about the A$54.2m (US$27.5m) takeover were inadequate and the target company was losing money.
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Australia's Corporations and Securities Panel has given objections to the takeover of Australian Liquor Group by Liqourland, a subsidiary of Coley-Myer, a formal two-week extension. It said it would seek and consider further submissions over the next 14 days. Liquorland claims that disclosures about the A$54.2m (US$27.5m) takeover were inadequate and the target company was losing money.
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