re: Ann: Bidder's Statement - Off-market ... Yes all true...

re: Ann: Bidder's Statement - Off-market ... Yes all true because they basically get away with anything. All they have to do is say sorry we forgot. Back in 1994 Attorney Gen tried to amend takeover rules but was hammered down by vested interests. Now the only recourse for an individual shareholder is to lodge an objection with the Takeovers Panel http://www.takeovers.gov.au/

It costs $2,100 for them to look at it and they can reject simply on the basis that the form of the objection is incorrect so you have to pay a lawyer to structure the objection so that it falls within the guidelines. So it's basically for the benefit of large business. You can get access to cases but you will be pis..g in the wind if you want to find the likes of AMP etc as a major shareholder contesting anything. They, being the actual people who fund manage on a daily basis, are out there drinking with all their mates and usually know whats happening well before the market.

They have no conscious simply because of the human condition called greed. e.g. recent release of QANTAS CEO pay deal. Fundamentally works on the basis of stuff you mate I look after me. So you need money to fight money viz BHP takeover of RIO pretty much 1.2bln of sharehoders money spent paying mates at law firms and accountancy practices around the world to keep each other including directors on the gravy train. Back to MRE I mean Glencore one of the directors is ex- Deloitte now a billionaire you can guess how he got on the board?? By the way in the Bidders staement it says if they dont get compulsory acquistion they can always change the constitution of MRE...IT seriously says this.