The $A6.2bn bid by Toll Holdings, Australia’s biggest transport and logistics operator for Patrick Corporation , the ports and airline operator, was one of the most bitterly contested and bloodiest takeover battles in the country’s corporate history.
The 10-month fight for Patrick, completed in April 2006, should have been straightforward. Toll wanted to add Patrick’s stevedoring capabilities to its road and rail logistics operations in order to provide customers with a service that could handle all parts of the supply chain.
