Summit responds to Paladin offer allegations in letter
12:17, Wednesday, 7 March 2007
Sydney - Wednesday - March 7: (RWE Aust Business News) - Summit
Resources (ASX:SMM) has received a letter from lawyers acting for Paladin
(ASX:PDR) in its hostile takeover bid for Summit which states that Summit
has misled its shareholders in its direction letter recommending
rejection of the offer.
Summit said today it did not regard the issues that the lawyers
raised in the letter as being material to the decision by shareholders
about accepting or rejecting the offer.
However, it said, if it did not respond publicly to the
assertions, the lawyers would most likely make an application to the
Takeovers Panel in respect of the allegations.
Summit directors continue to urge shareholders to take no action
on the Paladin offer.
stop shaking my tree, page-12
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