AusRAIL, Market Sectors

Corrigan hints at further twists in takeover defence

<p>Patrick managing director Chris Corrigan has hinted there might be much more to come in the takeover defence against Toll Holdings. </p> <p>"The focus right now is on seeing if the Toll bid gets up. If it does get up, then there are other things to be pursued," he said. </p> <p>Mr Corrigan said in an interview with <em>Lloyd’s List DCN</em> to be published on Thursday (November 24) that a new cornerstone shareholder, for example, in Patrick "is possible". </p> <p>Mr Corrigan also warned that despite the confusion of Toll’s Asian expansion strategy, Toll could end up "competing with the shipping lines" by booking import cargo from Asia itself, at the same time as being a stevedoring and container logistics provider to the shipping lines. </p> <p>If control of import freight was added to the intermodal rail plans being pursued by Patrick, the result would be "a powerful combination" with a great deal of power in the transport chain.</p> <br />