Brickworks slams Perpetual proposal

Group says proposal to unwind cross-ownership has 'inaccurate' information.

Brickworks Ltd has recommended shareholders vote against a $2.2 billion proposal to unwind its cross-ownership structure with Washington H. Soul Pattinson and Company Ltd.

In a statement to the Australian Securities Exchange, Brickworks said the proposal from Perpetual Investment Management and M.H. Carnegie & Co has significant potential tax liability.

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