Takeovers Panel rebuffs Andrew Forrest on Gina Rinehart bid for Atlas Iron

Brad ThompsonReporter

Updated Jul 2, 2018 – 4.46pm, first published at 11.24am

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Gina Rinehart has scored a significant victory over Andrew Forrest in the war over Atlas Iron with the Takeovers Panel declining to conduct proceedings in relation to her $390 million off-market bid through Hancock Prospecting.

NCZ Investments, a wholly owned subsidiary of Mr Forrest's Fortescue Metals Group, made a series of allegations about the bid last week in an escalation of the brawl between the two billionaires over the junior iron ore miner.

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