Nov 12 (Reuters) - Panoramic Resources Ltd PAN.AX :
* REFERS TO UNSOLICITED, HIGHLY CONDITIONAL SCRIP TAKEOVER OFFER FOR CO ANNOUNCED BY INDEPENDENCE GROUP
* CURRENTLY UNDERTAKING DETAILED REVIEW & EVALUATION OF INDEPENDENCE GROUP TAKEOVER OFFER
* REITERATES SHAREHOLDERS SHOULD TAKE NO ACTION IN RESPECT OF OFFER OR ANY DOCUMENT RECEIVED FROM IGO AT THIS STAGE