Based on Australian Law

MacDonnell Ltd is a listed public company. It owns 7% of the shares in Douglas Ltd and it also owns 28% of the shares in Compass Ltd.

Douglas Ltd, which is listed on the ASX, is a new player in the car manufacturing business. It has spent a considerable amount of money on research and development of electric vehicles and has manufactured two generations of electric vehicles. These vehicles are still quite expensive and Douglas Ltd is not a profitable company. However, its share price has tripled in the past 5 years alone. This appears to be attributable to the growing consumer trend towards buying electric vehicles and the considerable amount of intellectual property Douglas Ltd owns.

MacDonnell Ltd is considering making an off market bid for Douglas Ltd.

Major Motors Ltd (MM) and Dehavilland Ltd have both also publicly commented about making potential takeover bids for Douglas Ltd. MM and Dehavilland Ltd each own shares in Douglas Ltd. MM and Dehavilland Ltd have entered into an agreement not to sell their shares to anyone who proposes to take over Douglas Ltd.

Compass Ltd owns 2% of the shares in Douglas Ltd.

Please answer the following questions:

b)Would the agreement between Major Motors and Dehavilland Ltd raise any concerns under the takeover provisions of the Act?