Social media to shape disclosure law changes

The corporate watchdog says the bizarre takeover bid for the David Jones department store highlights the need for disclosure rule changes.

The surprise offer from an unknown private equity company in Britain saw the David Jones share price rocket almost 20 per cent only to plunge when the bid was withdrawn.

The chairman of the Australian Securities and Investments Commission Greg Medcraft told AM that discussions are under way with regulators in other countries to determine the identity and whereabouts of EB Private Equity and its alleged founder John Edgar.

“We’re liaising with UK authorities and continuing our investigation,” Mr Medcraft said… Read more


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