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Article: LION NATHAN SUPPORTS NEW ZEALAND STOCK EXCHANGE PANEL.
- Article from:
- AsiaPulse News
- Article date:
- February 14, 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 14 Asia Pulse - Lion Nathan has emerged as the sole supporter for the New Zealand Stock Exchange's market surveillance panel, currently under fire for granting the company a controversial waiver.
The panel's decision to waive a rule that would have made Lion wait two days between announcing an offer and buying shares shut small shareholders out of contention for the $4.65-a-share price paid for its final stake.
"I would like to make a fundamental point," Lion Nathan chief executive Gordon Cairns said today.
"The criticism of the waiver is misplaced. The idea that the bid was tipped with the waiver is erroneous . . . By granting ...