FLSmidth has lodged an appeal over the Australian Takeovers Panel's decision that the company must pay compensation Ludowici shareholders.
This follows Weir Group's appeal of the panel's 'declaration and orders' relating to Ludowici.
The Takeovers Panel found that FLSmidth was not prevented from increasing its bid for Ludowici, but that FLSmidth's correction on 31 January of a Reuters article published on 23 January should have been made earlier.
Consequently, FLSmidth was ordered to implement a process that may result in compensation to those Ludowici shareholders who may have suffered a loss by selling Ludowici shares in the period from 23 January until 31 January.
The panel has, as a consequence of Weir Group's appeal, issued interim orders stating that both Weir Group and FLSmidth must refrain from taking any actions that may result in them acquiring interests in or control of Ludowici while the appeal process is pending.
At 9:55am: (LON:FLS) Finsbury Life Sciences Investment Trust share price was 0p at 1.88p
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