After announcing that it wanted to increase its shares in Michael Hill International, which owns nine jewelry stores in the United States, the Hill family has told the company it won’t seek approval to do so after all, according to the company.
The change of heart came after the Takeovers Panel told the family that certain exemptions that are required to make the move were unlikely to be granted. The Hill family will propose consolidating its holdings into a single entity, it says.
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