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Sedimentary takes hostile bid to the authorities

SEDIMENTARY Holdings says it is “seeking declarations” from the Takeovers Panel with regards to the hostile takeover offer by AuSelect, with the former also separately claiming to be having positive discussions with parties potentially interested in making an alternate and “superior” bid for it.

Michael Quinn
Sedimentary takes hostile bid to the authorities

The application to the Takeovers Panel specifically relates to both the pre-bid acceptance agreement between pooled development fund Lion Selection and AuSelect, and the declaration by AuSelect last Friday...

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