Wah Nam gains control of Brockman

Brockman Resources has failed in its bid to resist a takeover offer by Hong Kong investment house Wah Nam International, which has received acceptances taking its stake up to 52 per cent in the Pilbara iron ore miner.


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Can't ASIC act on this? Isn't this a deadringer for what happened to MT Gibson in that Chinese Investment Houses rallied ordinary Chinese shareholders behind them to take control? Am I understanding this correctly or could someone please correct me? When do our foreign investment laws kick in? Nine shareholders for 96.5 of acceptances and only .59 of sharholders from Aust/NZ?

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