Takeovers Panel Agrees to Review Decision on Application for Proceedings Against Energy Resources

MT Newswires Live09-27

Australia's Takeovers Panel has agreed to review an application seeking to conduct proceedings relating to Energy Resources of Australia's (ASX:ERA) AU$880 million non-underwritten pro-rata renounceable offer, according to a Thursday media release.

The agency noted that a review panel has not been appointed and no decision has been made whether to conduct proceedings.

The Takeovers Panel had earlier rejected the application lodged by Zentree Investments and Packer & Co.

Meanwhile, Energy Resources said in a Friday filing that it will announce the revised timetable of its capital raise once the outcome of the review application is out.

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