Takeovers Panel not satisfied New Image takeover was compliant

Tue, 16 Feb 2021

The Takeovers Panel says it isn't satisfied the 2013 takeover of New Image Group complied with the Takeovers Code but it hasn't yet decided what to do about it.Following a complaint it received in June 2019, the panel decided the allegations of breaches of the code were serious and decided to investigate, "notwithstanding the elapsed time between the alleged breaches and the complaint."In February 2013, New Image Trustee made a full takeover offer for all of the voting securities in NEW. It became the majority owner in May of...

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