Ann: Trading Halt , page-7

Should be ok if voted for. Plus, there may be a Macarthur style bidding process if the Japanese rumours are proved true.
Ab.


CSR wins demerger appeal


The Federal Court is allowing CSR shareholders to vote on whether the company can split its sugar and building materials businesses (ABC TV News - file image)
The full bench of the Federal Court has accepted an appeal from conglomerate CSR, that will allow shareholders to vote on a proposed demerger.

A single judge of the Federal Court originally blocked CSR's proposed demerger in February.

Judge Margaret Stone ruled that it would result in a significant reduction in capital, making it harder for the company to compensate asbestos victims.

However, the full court ruled the demerger can be put to shareholders at a date and time to be determined by the court.

The court ruled that the risks identified by Justice Stone are more theoretical than practical, and that material before the court showed that the company would be able to pay all its creditors if the worst eventuated.

Should shareholders approve the demerger, it would also potentially open the door to a $1.75 billion dollar bid by China's Bright Foods for CSR's sugar business.