Takeovers Panel Receives Challenge to Forrestania’s Zenith Bid Over Disclosure and Control Issues

• Shareholder alleges Forrestania’s Edna May acquisition altered bid value without disclosure
• Concerns raised over Forrestania’s share purchases under confidentiality and standstill agreements
• Zenith board’s reaffirmation of bid questioned without independent valuation
• Applicant seeks voiding of acceptances and cancellation of director performance rights