Schemes Takeovers and Himalayan Peaks

Schemes of arrangement have been used successfully to achieve some of Australia's largest corporate mergers, yet they remain controversial. Schemes, Takeovers and Himalayan Peaks, co-written by Freehills partner Tony Damian, explores the use of schemes of arrangement to effect change of control transactions. It is the inaugural publication of the Ross Parsons Centre of Commercial, Corporate and Taxation Law at Sydney University. Schemes, Takeovers and Himalayan Peaks traces the legislative response to the policy concerns and the numerous legal challenges to the use of schemes since they were first used in Australia in the late 1970s. It also explores the useful roles schemes play in the modern corporate landscape and the criticisms directed at them.

Tony Damian specialises in mergers and acquisitions. He has acted on some of Australia's major schemes of arrangement and scheme proposals including Commonwealth Bank’s acquisition by scheme of Colonial ($10.1 billion); of IWL ($380 million) and its contest for control of Colonial First State Property Trust Group ($1.6 billion). Other schemes and scheme proposals he has acted on include Tullow Oil plc’s $1.47 billion acquisition by way of scheme for Hardman Resources (with US$1 billion debt facility); Peabody Energy’s successful A$2 billion contest for control of Excel Coal; Flight Centre’s A$1.6 billion public to private proposal; QBE’s A$8.7 billion scheme proposal to IAG as well as the innovative Cashcard/First Data scheme.

Takeover bids Tony has worked on include Investa Property Group's unsolicited $1.5 billion cash and scrip takeover bid for Principal Office Fund, the CAMEC bid for Omega, ShuffleMaster’s successful bid for Stargames and AurionGold in its response to Placer Dome's $2 billion hostile scrip takeover bid.

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For more information please contact

Name : Tony Damian
Title : Partner
Office : Sydney
Phone : +61 2 9225 5784
Fax : +61 2 9322 4000
Email : tony.damian@freehills.com