Toll riposte as Patrick sets out on train claim

<p>Toll Holdings has attacked Patrick Corp’s claim of half of Pacific National’s intermodal freight capacity between capital cities, and also taken aim at Patrick’s move into the freight forwarding sector. </p> <p>The Australian Competition and Consumer Commission said on Friday (March 17) that it would start market inquiries into Patrick’s bid for FCL Interstate Freight Services, with Patrick immediately saying that it would trigger the request for the rail capacity. </p> <p>It said that it would market and administer the space &#8211 which it says it is entitled to under the shareholder agreement &#8211 for both its own forwarding operations and third parties, in direct competition to Toll. </p> <p>Toll said that the move would be "fraught with unexplained risks for Patrick shareholders", and that it would fight the claim in court. </p> <p>Toll said the break-up of Pacific National would be uncommercial and would destroy shareholder value. </p> <p>Toll also said that Patrick was being forced to overpay for assets in order to enter the forwarding sector. </p> <p>Patrick is understood to have some new initiatives in freight forwarding technology ready to unveil. </p> <br />