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Dominion takeover to be investigated

Wednesday 10th December 2003

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The Takeovers Panel will investigate whether Dominion Retail Property Funds Ltd breached the Takeovers Code over its bid for Tri-City Properties.

Dominion made a takeover offer on December 2 for all shares and bonds issued by Tri-City.

The panel said Dominion might not have acted in compliance with the code by failing to adequately specify the consideration payable under the takeover offer.

Dominion sent a letter to Tri-City security holders stating that it had made a mistake on the amount it was offering in extra cash for Tri-City bonds .

The meeting will be held in private in Wellington on December 17.

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