Hi MrP,Based on some of your previous posts I get the impression...

Hi MrP,
Based on some of your previous posts I get the impression you know your way around some of the legalise. For one of the naive can you (or someone else) explain to me the meaning of the statement

"Universal is not afforded the protections that would apply if it were regulated by the UK Panel on
Takeovers and Mergers under the UK City Code on Takeover and Mergers or the Australian Takeovers
Panel under Chapter 6 of the Australian Corporations Act"

Because it looks like Terracom will end up with 47%+ of UNV irrespective of what other UNV shareholders do.
And then with Terracom/Bresidas holding ~ Board control as well as 47%+ of shares by 20 March maybe each of the 4 associated directors could buy up 3/4% of UNV shares each giving them 50.1% of UNV shortly after with potentially frightening consequences for remaining UNV shareholders

How is it legal. Why wouldn't Takeover Panel quash it? Anyone?