Brisbane Market confirms takeover bid

- from Brisbane Markets

Brisbane Markets Limited (BML) has received confirmation from Produce Markets Queensland Pty Ltd (PMQ) that it has despatched its Bidder’s Statement for its offer to acquire all shares in BML for $3.50 per share.

BML’s Target’s Statement, its formal response to the PMQ Bidder’s Statement, is being prepared and was released in early December.

BML has significant concerns that a number of statements made by PMQ in its Bidder’s Statement are incomplete, misleading and inaccurate and should be read with caution.
In particular, the BML Board refutes allegations made by PMQ that the structure of BML is no longer appropriate. The BML Board is also concerned about the misleading nature of the statements PMQ has made regarding Brismark and the benefits which might flow to Brismark members if Brismark were to accept the PMQ Offer. Brismark must operate within the ambit of its own rules and in accordance with the regulatory regime under the Cooperatives Act.