IMO the takeovers panel needs to take a close look at this...

IMO the takeovers panel needs to take a close look at this fiasco as it sets a dangerous precedent for all OZ cross border M&A transactions in the future.
If they don't make orders on MMK to proceed this will become a strategy for all foreign takeovers as an "out". Doesn't mean MMK will go ahead (clearly they want out) yet some retribution must follow or the whole corp law in OZ will be seen as a joke and a big risk for TO with foreign buyers.

If the TO panel doesn't proceed with an enquiry especially after FIRB approval and makes orders for MMK this country will have gone to the dogs.
Th problem with MMK is they have dug themselves a huge hole with trying to buy time when they just should have fessed up and said they couldn't proceed.
Any QCs on this thread care to opine about the dangerous precedent this sets for TO law if not dealt with with orders for MMK?