Takeovers Panel rules Brookfield exclusivity agreement void

THE Australian Takeovers Panel has ruled in favour of APA Group in its bid to break Brookfield’s exclusivity agreement as part of takeover negotiations with AustNet, saying the agreement must be rectified to include a fiduciary out.

Takeovers Panel rules Brookfield exclusivity agreement void Takeovers Panel rules Brookfield exclusivity agreement void Takeovers Panel rules Brookfield exclusivity agreement void Takeovers Panel rules Brookfield exclusivity agreement void Takeovers Panel rules Brookfield exclusivity agreement void

APA’s application successful

AusNet announced last month Brookfield offered to acquire the company for A$2.50 per share via a scheme or arrangement, entering into an exclusivity agreement to conduct due diligence.