10 Mar 2010

Takeovers Panel to consider Horizon Energy bid

8:15 am on 10 March 2010

The Takeovers Panel plans to meet with parties involved in an unsuccessful partial takeover for Horizon Energy.

It follows a formal request from Marlborough Lines to investigate a large number of allegations it's making about parties involved in its unsuccessful bid for the company in September.

The Takeover Panel says there may have been breaches of the Takeovers Code, which prohibits misleading or deceptive conduct in relation to takeover transactions.

The panel is holding a private meeting about the issue in Wellington on 16 March to discuss the matter.