By NZPA
|
Thursday 25th July 2002 |
Text too small? |
The commission's enforcement director, Norman Miller, confirmed that it was looking into Perry's holdings in Rubicon .
Perry spent $27 million this month increasing its stake in the forestry and biotech company from just under 5 percent to nearly 16 percent.
A potential showdown is now looming between Perry and Guinness Peat Group, which the week before bought a 19.9 percent stake in Rubicon.
GPG director Tony Gibbs has so far refused to say if he will support the $1.3 billion deal by Fletcher Challenge Forests, Rubicon and Citic to buy the Central North Island Forest Partnership's assets.
He thinks the whole deal will "collapse under its own weight".
Mr Gibbs and fellow GPG executive director Gary Weiss are about to join the Rubicon board.
The Independent Business Weekly today reported a complaint to the commission about Perry was made by GPG.
No comments yet
Rubicon returns to profit as Tenon rides US housing rebound, ArborGen rejigs R and D
ArborGen buys CellFor for CND $1.1 million, reducing Rubicon's shareholding
Rubicon shares jump on fully subscribed rights issue
Rubicon to raise $21m from 1-for-3 rights issue
Rubicon sinks deeper into the red
Rubicon's biggest shareholder poised to take seat on the board
Rubicon shareholder cries foul over management, calls for carve up and sell-down
Rubicon completes $21 million capital raising, supported by 80% of shareholders
Rubicon in trading halt pending capital-raising announcement
Writedowns hurt Rubicon first half
