Takeovers umpire decides not to get involved in Packer & Co, Rio Tinto blue

by Pelican Press
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Takeovers umpire decides not to get involved in Packer & Co, Rio Tinto blue

A push by fund manager Willy Packer and Zentree Investments to kibosh Rio Tinto’s heavily discounted capital raising in uranium clean-up company Energy Resources of Australia has been thwarted by the Takeovers Panel.

Rio-controlled ERA told the market on Wednesday the takeovers umpire had declined to take action on calls for a declaration of unacceptable circumstances regarding the miner’s $760 million rights issue.



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