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Takeovers Panel takeovers.gov.au

Accent Group Limited

Imported from official source

Announcement

Decline to conduct proceedings – target’s statement – disclosure – undervalue statement – forward looking statements – independent expert’s report – disclosure of offer premia – undertakings

Corporations Act 2001 (Cth), sections 638, 640, 670A

Guidance Note 18 – Takeover documents, Guidance Note 22 – Recommendations and Undervalue Statements

Tully Sugar Limited [2009] ATP 26, Sirtex Medical Limited [2003] ATP 22

  • The Panel, Costas Condoleon, Susan Forrester and Richard Phillips (sitting President), declined to conduct proceedings on an application made by Frasers in relation to the affairs of Accent. Frasers launched an on‑market takeover bid for all of the shares in Accent that it did not already own. The application concerned alleged disclosure deficiencies in the Target’s Statement, including in relation to a number of undervalue statements within the meaning of Guidance Note 22. While the Panel raised preliminary concerns with certain aspects of the Target’s Statement disclosure, it concluded that there was no reasonable prospect it would declare the circumstances unacceptable after Accent provided corrective disclosure.
    • 22 June Announcement has the meaning given in paragraph 7 Accent Accent Group Limited (ASX code: AX1) First Supplementary Target’s Statement the first supplementary target’s statement given by Accent dated 29 July 2026 Frasers Frasers Group plc Initial Undervalue Statements has the meaning given in paragraph 7 Offer has the meaning given in paragraph 6 Target’s Statement the target’s statement given by Accent dated 29 June 2026 Undervalue Statements has the meaning given in paragraph 8
  • Accent is an ASX listed company that operates a consumer goods retail and distribution business.
  • Frasers is a public limited company incorporated in England & Wales listed on the London Stock Exchange.

    • This is an extract. The publication continues at the source.

    Read the original at the source: https://takeovers.gov.au/reasons-decisions/2026-atp-12

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    October 03, 2026 20:43
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