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Corporate watchdog puts bite on Andrew Forrest's Poseidon Nickel play

Brad Thompson
Brad ThompsonReporter
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The corporate watchdog has taken the highly unusual step of referring a capital raising to the Takeover Panel in a move that threatens to derail Andrew Forrest's plan to boost his stake in Poseidon Nickel.

The Australian Securities and Investment Commission is concerned Poseidon Nickel's $69 million capital raising could unfairly give control to Mr Forrest's Squadron Resources.

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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
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    Original URL: https://www.afr.com/companies/corporate-watchdog-puts-bite-on-andrew-forrests-poseidon-nickel--play-20180913-h15bv4