CAPITAL MARKETS

Takeovers Panel rejects De Beers' application

SOUTH African diamond cartel De Beers has been dealt a setback in its bid for Ashton Mining as Australia's Takeovers Panel today rejected its attempt to prevent Rio Tinto despatching its rival takeover offer.

Greg Tubby

De Beers lodged a formal application with the regulator claiming Rio's takeover documents were misleading or deceptive. "The panel's decision follows an undertaking by Rio Tinto to issue, within a week,...

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