Latest Takeovers Panel News

Steadfast Group has disclosed a notice from Pentwater Capital Management concerning equity derivatives under Takeovers Panel guidance. The filing does not reveal the position’s size, direction, counterparties or economic exposure, leaving its significance unresolved.

Oregon Group is seeking effective control of New Zealand King Salmon after agreeing to buy half of a 9.87% stake and secure voting rights over another holder’s shares. The proposed transaction would give Oregon control of 50.68% of NZK’s voting rights, subject to several approvals.

The Takeovers Panel has extended restrictions preventing Tenstar, Samuel Holdings, Benn Whistler and their associates from dealing in DGR Global shares without prior consent. The orders preserve the existing position while the Panel considers its final response to declared unacceptable circumstances.

Zenith Minerals more than doubled its flagship Dulcie gold resource to 675,000 ounces in FY26, but the company’s next chapter is now tied to Forrestania Resources’ conditional takeover offer. The annual report also details Takeovers Panel intervention, ongoing drilling and a cash balance of $4.23 million.

The Takeovers Panel has allowed Pengana Capital Group to withdraw its challenge to Pengana International Equities’ buy-back and proposed rights issue, but stopped short of endorsing the transactions. The regulator said it remained concerned about the structure and warned that settlement terms must not obstruct future proceedings.

The Takeovers Panel has declared unacceptable circumstances at DGR Global after finding that Nicholas Mather, Paul Simpson and associated entities coordinated acquisitions that lifted their combined voting power to 45.43%. Final orders, which could determine the treatment of the transactions and voting rights, have not yet been made.

The Takeovers Panel has upheld its finding of unacceptable circumstances in Forrestania Resources’ recommended takeover of Zenith Minerals, while requiring both companies to explain what happens if Forrestania falls short of full ownership. The extra disclosure puts listing status, processing access, governance and shareholder voting under sharper scrutiny.

The Takeovers Panel has received a review application from Ida Metal Investments over orders made in the Zenith Minerals takeover matter. The application also seeks interim orders matching those imposed on 6 September, adding another procedural hurdle to the contested bid.

Pengana International Equities has settled Supreme Court proceedings and agreed steps aimed at ending a related Takeovers Panel application, clearing a path for its buy-back and strategic reset. Antipodes will manage the portfolio under a new Board led by interim chairman Frank Gooch after the transaction.

The Federal Court has given the Takeovers Panel until 30 September 2026 to decide whether to declare unacceptable circumstances in relation to DGR Global. The extension keeps the proceedings alive, but does not indicate how the Panel will rule.

A2MP Investments has declared its A$0.05 per share takeover offer for Canyon Resources best and final, with the bid set to close on 21 September unless a competing proposal emerges. The offer remains conditional and will lapse if its minimum acceptance condition is not met.

Zenith Minerals has acknowledged Forrestania Resources’ completed capital raising and acquisition of the Edna May Gold Project, but the takeover process remains subject to the Takeovers Panel’s final orders. Further disclosure from Zenith is still pending.