Medlab Decision:  The Court held as invalid a $560 million contract, signed after a tender process, for the provision of pathological services between three Auckland regional district health boards and Lab Tests Auckland Ltd (a subsidiary of ASX listed Healthscope).  Diagnostic Medlab Ltd (a subsidiary of ASX listed Sonic Healthcare) was the plaintiff, competing bidder for the contract and incumbent provider.  Justice Asher found a conflict of interest and misuse of information by Lab Tests senior executive and shareholder who was a member of the Auckland District Health Board at relevant times prior to the contract being awarded.  This case is indicative of the Court's readiness to become involved in a commercial tender involving significant public sector contracts.  Lab Tests are appealing this decision.

Commerce Commission Jurisdiction Decision:  The High Court has confirmed that the Commerce Commission can pursue penalty proceedings against defendants under the Commerce Act, notwithstanding they were outside of New Zealand at the time of the offending.  The decision is part of a significant cartel case in the wood preservative chemicals industry.  This has implications for off-shore mergers and acquisitions that have an effect on competition in a market in New Zealand.  The case is to be appealed.

Government Policy Request:  The Panel has been requested to undertake further consultation (and report) on the problems of schemes of arrangement and amalgamations being used to undermine the Takeovers Code.

Goodman Fielder acquiring River Mill Bakeries in respect of regional markets for the supply of bread and bagged flour; and

BOC acquiring Shell's LPG business in respect of the national wholesale and distribution of LPG and regional retail; and

Elite Truck Rentals acquiring Orix Truck Rentals in respect of vehicle leasing and rental services.

Onex acquiring Kodak's healthcare imaging business (global deal);

Abbott Laboratories sale to Kodak of its diagnostic and diabetes care business (global deal);

CCMP Capital Asia's acquisition of Repco (trans-tasman deal);

Wesfarmers consortium on its proposed acquisition of Coles (trans-tasman deal);

SAI Global's merger of NZ operations with Telarc (and shareholders agreement) (New Zealand deal);

NZ advice on Paladin Resources takeover for Summit Resources (Australian deal);

NZ advice on Lihir Gold's capital raising (global capital raising);

NZ vendor due diligence and advice on Foster's sale of its Wine Clubs and Services business (trans-tasman deal);

ITW/Click Commerce's acquisition of a NZ software company Kiwiplan (New Zealand deal).