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Article: No boss for Pacific National as Patrick accuses Toll of power grab.

Article from:
Australasian Business Intelligence
Article date:
December 13, 2005
Copyright

Byline: Ian Porter

Dec 13, 2005 (The Age - ABIX via COMTEX) -- There has been a heated board meeting betweenPacific National (PN), Toll Holdings and

Patrick Corporation in mid-December 2005.PN, as a joint venture between the twocompanies, has been caught in the middle of ahostile Toll bid for Patrick. Stephen O'Donnell, PN CEO, had previously tenderedhis resignation and reportedly wanted nearly$A2 million to return as CEO. Patrick CEO,

Chris Corrigan, stormed out of the meetingwhen Toll CEO, Paul Little, by hisinterpretation, effectively assumed

"executive ...

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