a blast from the past

As an EIF holder, I just came across this old post, it still may hold some relevance--

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iktomithejust (ID#: 295526) EIFFEL TAKEOVER RUMORS$$$$$$$$$$$$$$$ 1/2/01 4:23:18 PM 2994504
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(federation has pointed this out to me- I know nothing about it - honest)
EIFFEL TECHNOLOGIES LIMITED (EIF)
(Company background)
Rumours re: Takeover announcement
Announced on 29 Jan 20014:35:32 PM
Part: - 403 words
Status: Not market sensitive (N)
Industry Sub Group: Pharmaceutical (211)


--------------------------------------------------------------------------------

EIFFEL TECHNOLOGIES LIMITED 2001-01-29 ASX-SIGNAL-G

HOMEX - Melbourne

+++++++++++++++++++++++++
Directors have become aware of recent market rumour and speculation
of a takeover announcement for Eiffel Technologies Limited (Eiffel)
formerly PharmAction Holdings Limited, similar to market speculation
in March 2000.

Directors believe that the takeover speculation may have been fuelled
by two announcements in December 2000 of the acquisition of two of
Eiffel's major international competitors by large pharmaceutical
companies.

In early December 2000, Lavipharm Laboratories Inc announced that it
had acquired exclusive and perpetual rights to Phasex Corporation's
Supercritical Fluids technology (SCF), patents, trademark and
know-how for use in the pharmaceutical and cosmetic fields together
with a 30% equity stake in Phasex. Phasex, based in Boston,
Massachusetts, applies SCF technology to the development of
separation, purification and recrystallisation processes with
emphasis on particle design of small and bio-molecules including
proteins and peptides.

No purchase price has been announced that Directors are aware of. The
President and CEO of Lavipharm, Mr Lavotha, is reported as stating,
"There is no doubt that this is the technology platform of the future
for the pharmaceutical and biotech industries."

The second announcement, which Directors believe may be fuelling
takeover speculation, was the late December acquisition of Bradford
Particle Design Plc by US giant Inhale Therapeutic Systems Inc for
135 million pounds sterling (approximately $A380 million).

Reuters London, reported on 21 December 2000, that Inhale had
reported that it made the acquisition a month after it failed to buy
UK drug delivery Company Quadrant Healthcare, losing it to the Irish
based group Elan Corporation.

Both Phasex and Bradford are world competitors with Eiffel in the
formulation of drug particle design to allow large particle
injectable drugs to be micronised by special Supercritical Fluid
technology to allow administration by puffer or patch.

Eiffel considers itself a world leader in this field, given the
accelerated Supercritical Fluid technology research programme that
has been undertaken.

Directors announce that whilst discussions and negotiations occur on
a daily basis with a wide range of leading international
pharmaceutical companies, there are no current offers to acquire
Eiffel and no current negotiations on this subject.

Directors consider that a fully informed market exists, and any
important developments will be immediately announced to shareholders.

S Quigley
DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:

Mr Sam Quigley
C/- Pelorus Australia Pty Ltd
Level 14/50 Market Street
MELBOURNE VIC 3000

Tel: 61 3 9614 5505
Fax: 61 3 9614 4679
E-mail: [email protected]