Brickworks postpones meeting

Shareholder meeting to discuss unwinding cross-ownership now set for April.

Brickworks (BKW) has agreed to postpone its shareholder general meeting until April 10 to allow shareholders to receive and consider all relevant information in time.

In a statement to the Australian Securities Exchange, Brickworks said it had reached agreement on the date with M.H. Carnegie & Co Pty Ltd and Perpetual Investment Management (PPT), after earlier scheduling the meeting for November 25, 2013 and adjourning it until February 28.

Perpetual and Carnegie's $2.2 billion proposal, to be considered at the meeting, would unwind Brickwork's cross-ownership structure with Washington H. Soul Pattinson and Company (SOL).

Brickworks has said the proposal has significant potential tax liability, but Carnegie and Perpetual believe it will unlock value for Brickworks investors.

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