Ann: TPG to Acquire iiNet in a Recommended Transaction, page-56

KerrodT,

I think the takeover of IIN by TPG is a good thing but I commented in response to your earlier post about other offers.

Takeovers are a bit more complex than that as they also depend on what conditions were attached to the offer, for example the Board may be restricted from entertaining, or even seeking, another offer or at best acknowledge an approach but not support it within the limits of S629 of the Corporations Act of course.

Again, I make reference to the Saputo takeover of WCB last year. I will try and find the information I have on typically some takeover conditions and will repost but I don't know what was contained in the offer to IIN from TPG so it will be generic. Maybe you know the specifics of the offer.

Cheers.