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Article: NEW ZEALAND EXCHANGE SLAMMED FOR LION NATHAN WAIVER.
- Article from:
- AsiaPulse News
- Article date:
- February 13, 2001
CopyrightCOPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WELLINGTON, Feb 13 Asia Pulse - The decision of New Zealand Stock Exchange's Surveillance Panel to grant a waiver to Lion Nathan in its takeover bid for wine maker Montana has caused heated debate.
"It's a referee's goal and we shouldn't be satisfied until heads actually do roll," independent financial adviser Murray Weatherston said of the panel's decision to grant Lion a waiver over the two-day notice and pause provision required when it increased its bid for on Thursday.
The panel in a statement yesterday to explain its actions said it regreted the situation which followed but said it had acted in good faith.
It pleaded that it only had four ...