<p>New Zealand’s Takeovers Panel will make a decision later today (Wednesday, August 6) on whether Toll Holding’s deal with the New Zealand Government over Tranz Rail complies with its code.</p> <p>The panel met yesterday to consider the issue after a complaint from Tranz Rail investor Infratil, which owns a 7% stake in the rail operator.</p> <p>Infratil argued that the exclusive nature of the Toll-Government deal could result in an offer for Tranz Rail being frustrated and/or its shareholders being denied a chance to decided on the offer’s merits.</p> <p>The panel could impose a number of restraining orders against Toll if the breaches are proved.</p> <br />
