It’s been an interesting time for Australia’s corporate watchdog. Financial manoeuvres by Gina Rinehart and James Packer, which saw them increase their holdings in Fairfax Media and Echo Entertainment…
If she is unable to gain seats on the board, Gina Rinehart can still establish a control base by initiating a takeover of Fairfax and offering a premium to shareholders.
AAP
Fairfax Media Ltd’s constitution enables the board to allocate board places in addition to the existing directors up to the maximum number of directors allowed in the constitution – not more than 12 unless…
Certain obstacles – such as Fairfax’s 51% shareholding in New Zealand incorporated company Trade me – play a role in Gina Rinehart’s decision to lower her stake in Fairfax to 15%.
AAP
Hancock Prospecting’s explanation for selling down to 15% of Fairfax suggests it is unlikely either to bid or sell down further in the short term.
Its stated reason was to clear an obstacle – arising…
The circumstances surrounding EB Private Equity’s takeover bid for David Jones were highly unusual.
AAP
It’s been an extraordinary week for upmarket retailer David Jones. Last Friday, the company announced that it had received a $1.65 billion takeover bid from UK firm EB Private Equity, and its shares rose…
There is more behind the Qantas lockout than short-term industrial disputes.
AAP
As the initial shock of the Qantas lockout of its workforce abates, it is time to consider the wider implications of this action.
One lesson is the folly of national identification of companies that are…
Line ‘em up: boutique beers could fall if SABMiller’s takeover attempt of Foster’s succeeds.
AAP
It’s difficult to believe that the iconic Foster’s beer brands, which include VB, Crown Lager and Cascade, could be next to fall into the hands of foreign owners.
If they do, this will mean that over…
