[1] Having acquired a 20% shareholding in ANI, Kerry Packer's Australian Consolidated Press (ACP) launched a takeover offer in April 1989.
Two weeks later, Packer, who had already reduced his shareholding in ANI from 48% to 30%, sold his remaining stake, making a $200 million profit.
In 2006, it was estimated that the final losses from ANI's venture into European waste management approached $1 billion.
[4][5][6] In October 1998, Evans Deakin Industries, that held a 5% shareholding in ANI, announced its intention to launch a takeover offer.
[7] In December 1998, Smorgon Steel launched a counter takeover offer that was successful, with ANI delisted from the Australian Securities Exchange on 17 March 1999.