Magna Pacific (Holdings) Ltd 04

Judgment date: 28/05/2007
Court: ATP
Judge: S Doyle, B Jolley (Sitting President) and K Wood (Deputy President)
Citation: [2007] ATP 10; BC200705107;
Catchwords: Corporations;  Takeovers;  Misleading statements;  Unacceptable circumstances;  

Corporations;  Takeovers;  False and misleading information;  Letter from bidder to target shareholders;  

Corporations;  Takeovers;  Prominent statements;  Bidder's statement offer only offer capable of acceptance;  

Corporations;  Takeovers;  Bidder's letter;  No evidence to establish influence on shareholders;  

Corporations;  Takeovers;  Target;  No attempt to address concerns commercially;  

Corporations;  Takeovers;  Conduct of target company;  Genuine attempt to resolve issues commmercially prior to application;  

Corporations;  Takeovers;  Target's allegations;  Attempt to trick unaware and unsophisticated target shareholders into accepting inferior offer;  

Corporations;  Takeovers;  Decline to commence proceedings;  Insufficient evidence;