38 ordspråk av Chris Corrigan

Chris Corrigan

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We had a look at it and decided it wasn't something we wanted to be involved in.

Now it turns out that this is considerably more money than these ferries actually make,

Far from being a serious bid to build an Asian-Pacific colossus, the bid is a crude maneuver to stop Patrick competing with Toll in Australia. Patrick doesn't need Toll.

I'm obviously in touch with our shareholders,

I worry about those people (Toll) being in charge of $10 billion (combined) company,

Our long-term capital investment program in ports will move to a new phase next month with the opening in Brisbane of our world-first automated straddle carrier terminal,

These people are desperate to do any deal anyone puts on the table.

The Toll bid was ill-conceived from the outset. It has been a failure of both strategy and execution.

It would be more valuable to Patrick and Toll shareholders if (chief executive) Paul Little focused on an orderly break-up of Pacific National which is now deteriorating daily.

Everything we have learned about Toll in the last seven months has confirmed our belief that Toll has lower quality assets and a higher risk earnings profile.

The Board strongly believes that, based on this offer, Patrick shareholders are better off without Toll in the medium and long term. Patrick has far superior businesses and significantly greater growth prospects relative to Toll.

Patrick regards its prospect for growth in freight forwarding as greatly superior to Toll given that Toll is already the dominant supplier in this market with no significant prospects for future growth.

I'm pleased that we have been able to achieve this result for Patrick shareholders who may now choose to share in the benefits of the merged Toll and Patrick businesses.

well into an investment cycle that should lead to long-term consistent growth from a stable of high quality strategic businesses.

I'm talking about business ethics here,

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