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2009-09-16- Brambles Says It Didn't Receive Approach From Toll
By Nichola Saminather Sept. 15 (Bloomberg) -- Brambles Ltd., the world’s biggest supplier of pallets, didn’t get an approach from Toll Holdings Ltd., according to the Sydney based company’s general manager for group corporate affairs, David Besier. Besier declined to comment on an approach from Credit Suisse Group AG, calling an Australian Financial Review report “market speculation” in a telephone interview today. Credit Suisse Group AG approached Brambles Chairman Graham Kraehe with a proposal that would involve Brambles buying Toll, the newspaper said Aug. 28. Toll, Asia Pacific’s second-biggest air freight and logistics company has moved past plans to construct a deal with Brambles, the Wall Street Journal reported today on its Web site. Toll Chief Executive Officer Paul Little said the deal couldn’t be completed without compliance from Brambles, the report said. Calls to Andrew Ethell, general manager for group corporate affairs at Toll Holdings weren’t immediately returned today. To contact the reporter on this story: Nichola Saminather in Sydney at nsaminather1@bloomberg.net