Innopac / Merlin Diamonds

Innopac / Merlin Diamonds: The Australian Securities & Investments Commission (ASIC) is monitoring a mysterious takeover bid for Melbourne co Merlin Diamonds amid revelations that colourful mining magnate Joseph Gutnick swapped sides during the offer period. ASIC is understood to be watching closely the planned $60m takeover by InnoPac Holdings, but it is not known whether the corporate regulator will move to halt the offer before it is due to close at 7pm today. We recall that Investor’s Central had raised quite a few interesting issues in regards to the nature of the takeover offer, in a recent article / interview, where attempts to get a reply from the involved stakeholders regarding the deal structure has yet to be answered. http://www.theaustralian.com.au/business/mining-energy/asic-eyes-gutnick-diamond-deal/story-e6frg9df-1226677893107