re: takeover offer I wrote to BGN about an independent valuation...

re: takeover offer I wrote to BGN about an independent valuation of BGN, and here is the response
....and I'm not happy about it! .................

As Hospira's shareholding in BresaGen at the date of the target's statement was 19.95%, there is no requirement under the Corporations Act for BresaGen to include an independent expert's report in the Target's Statement.

Moreover, BresaGen's directors have carefully considered Hospira's Offer in the light of the strategic alternatives available to the Company, and consider the Offer represents the best opportunity for shareholders. BresaGen's directors have determined that they do not separately require the opinion of an independent expert, and have elected not to commission an independent expert's report.

As stated in the Target's Statement, BresaGen's directors believe that Hospira's Offer is in the best interests of shareholders, and unanimously recommend shareholders accept the Offer in the absence of a higher priced offer.

If you have any further questions about the Offer, please feel free to contact the Offer Information Line on 1300 309 570.

Best regards
Bryan Dulhunty

CoSA Pty Ltd
P 61 2 9440 5677
F 61 2 9440 5688
M 0433 217 876

PO Box 1101 Pymble Business Centre
Pymble 2073