Gutnick switches support in Merlin bid: report

Chairman buys stakes in suitor, sells down holding in Melbourne diamonds group.

A bid for Merlin Diamonds has collapsed after chairman Joseph Gutnick switched support from takeover target to suitor during the offer period, The Australian reports.

According to the newspaper, Singapore investment company InnoPac Holdings gained acceptances for 73 per cent of Merlin shares when the offer closed on Friday night, below the 90 per cent minimum level set in its bidder's statement.


{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles