Business Services Industry
Pivot urged to support merger bid with Incitec.
Australasian Business Intelligence, November, 2002
Nov 15, 2002 (The Courier-Mail - ABIX via COMTEX)
Pivot shareholders will vote on 19 December 2002 whether to merge with Incitec. The Victorian Supreme Court has ordered the vote. Pivot's directors have unanimously recommended that shareholders vote for the merger. Orica, which owns 77 per cent of Incitec, has welcomed the court order. Incitec shareholders have approved a demerger of Incitec's fertiliser and industrial chemicals business. Futuris, which owns 21 per cent of Incitec, opposed Orica's proposed takeover of Incitec's industrial chemicals business, claiming that the bid undervalued the assets.
Publication Date: 16 November 2002
PIVOT LIMITED:
INCITEC LIMITED - ASX ICT:
SUPREME COURT OF VICTORIA:
ORICA LIMITED - ASX...
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