Fed: Patrick agrees to Toll takeover bid =2

AAP General News (Australia)
04-14-2006
Fed: Patrick agrees to Toll takeover bid =2

Patrick and Toll have announced the terms of a joint agreement .. under which Toll
will increase its offer for Patrick to 0.4 Toll shares .. plus three dollars for each
Patrick share.

The three dollars includes the additional cash of 30 cents under Toll's prior offer.

Toll says this is their final price .. unless someone else makes a higher offer for Patrick.

The Patrick board has accepted the proposal from Toll .. and will unanimously recommend
its acceptance.

Patrick chairman PETER SCANLON .. says he's accepting Toll's offer for his own shares in Patrick.

And Patrick managing director .. CHRIS CORRIGAN .. says the increased offer from Toll
represents a fair price for Patrick shareholders.

AAP RTV ag/rt

KEYWORD: PATRICK 2 SYDNEY

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