Australia's Takeovers Panel made a declaration of unacceptable circumstances in relation to an application by Akat Investments regarding the planned acquisition of Humm Group (ASX:HUM) by Credit Corp Group (ASX:CCP) because of their effect on the control, or potential control, of Humm, according to a Wednesday Australian bourse filing.

The panel considered that certain statements in Humm's Dec. 17, 2025, and Jan. 14 statements regarding a conditional, non-binding indicative offer from Credit Corp Group (ASX:CCP) to acquire control of Humm were misleading, the filing said. The panel said the statement was misleading because it gave the impression the board was evaluating the proposal, when Humm's founder and former Chair Andrew Abercrombie had already decided to reject it.

The panel also considered that the conduct of firm's board in failing to engage substantively with the Credit Corp's proposal, in light of the statements Humm made to the market that it was willing to engage on the proposal, was unacceptable and contrary to an efficient, competitive and informed market. It also considered that Andrew Abercrombie's acquisitions of 3% of Humm shares immediately after Humm's Dec. 17, 2025, announcement were unacceptable.

The panel is still considering whether it should make final orders, per the filing.

Humm's shares jumped 6% in recent trading on Wednesday.