The Takeovers Panel will not stop Aurora Funds Management's attempted takeover of Molopo Energy, having decided not to proceed with the junior's request it look into whether it's a genuine bid or contravene the letter or spirit of a previous order of the panel.
The panel said only a court can conclusively determine whether Aurora's bid as structured would breach Order 9 which the panel made on July 7 which stated that neither Keybridge Capital or Aurora could acquire any shares in Molopo inside a six-month period.
MPO Price at posting:
14.0¢ Sentiment: None Disclosure: Held
