Sydney-Australian Pipeline Trust has decided to appeal a Federal Court decision that Alinta's purchase of a 10.25% stake in APT was not illegal, the company said in a statement October 26.The Federal Court October 20 upheld an earlier Takeovers Panel decision that the purchase of the stake was made in unacceptable circumstances, but said it did not breach section 606 of the Corporations Act, which prevents a raider taking more than 19.9% of a target company without making a full takeover offer.
展开▼
