Gavin Hudson, the former SA Breweries executive running sugar company Tongaat Hulett, will know now that if you’re going to climb into the snake pit, chances are you will get bitten.

Last week, the Takeover Regulation Panel (TRP), tasked with giving a yea or nay to corporate deals, issued a snotklap to Tongaat when it ruled that its new Mauritius-based investor, Magister, hadn’t been entirely candid...

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