Sydney, Mar 1, 2006 AEST (ABN Newswire) - Last night, Alinta's (ASX: ALN) advisers met with advisers of Australian Gas Light Company (ASX: AGL) to discuss and agree on a protocol for furthering Alinta's proposal to merge the two companies.
This was the earliest date at which AGL's advisers were available.
As a result of that meeting, AGL provided Alinta with a protocol which Alinta accepted in substance, but sought clarification on an issue relating to commercial confidentiality. In addition, Alinta has agreed to AGL's initial request that Alinta make public a summary of the merger proposal.
If Alinta's clarification to the protocol is agreed to, Alinta will provide further details to the market, but will not include information that Alinta believes is commercially sensitive (both to itself and AGL).
Alinta is proposing a co-operative process whereby commercially confidential information will be provided to AGL and its advisers if discussions take place in a co-operative manner.
The AGL board met this morning but as of 12.30 pm (Perth time), Alinta had not received a response.
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Tony Robertson
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Shaun Duffy
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Jim Kelly
Director, Third Person Communications
Phone: +61 2 8298 6100
Mobile: +61 412 549 083
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