Takeovers: Acceptance facilities revisited in the Patrick case

Takeovers undertaken in Australia are highly regulated transactions. Once shareholders in the target accept an offer they have a limited opportunity, if any at all, to reconsider or revoke their acceptance in the light of new circumstances. Arguably, this explains target shareholders reluctance to accept an offer made for their shares under a takeover. The problem of shareholder inertia in takeovers has been identified by bidders, who have sought to induce bid acceptance through the use of innovative mechanisms. The efficacy of the Acceptance Facility mechanism was recently revisited in the Panel decision in Patrick Corporation Ltd’s takeover by Toll Holdings Ltd.

Hop selection in peer-to-peer WPAN networks

Currently, wireless technology is revolutionizing the way we share information and communicate. The demands for mobility have made wireless technology the primary source for voice communication. Code-division multiple-access (CDMA) is a very popular spread spectrum application due to its claims of low transmission power, higher system capacity, ability to mitigate multipath fading and user interference. In that case, frequency-hopping code-division multiple access (FH-CDMA) has received considerable attention over the past few years. This technique will allow a better performance over a fading channel, message privacy, and immunity to narrowband interference. This paper addresses the characteristics of FH-CDMA in WPAN networks, with an emphasis on frequency-hopped Bluetooth systems. A performance evaluation of FH-CDMA is discussed and simulated. The analysis shows the interaction between the designed parameters and their effect on the network system. Most specifically, the FH-CDMA scheme provides frequency and temporal diversity to combat the effects of interference.