The Court of Appeal decision made public yesterday prevents supermarket chains Foodstuffs and Woolworths launching takeover bids for The Warehouse.
In 2006 Mr Tindall -- who controls a little more than half The Warehouse shares -- in a consortium with Pacific Equity Partners announced plans to take The Warehouse private.
But after Woolworths bought 10 percent of The Warehouse and its share price rose, Mr Tindall abandoned the proposal.
Yesterday shares in The Warehouse tumbled 60c, or 15.7 percent, to $3.22.
Market experts said yesterday's development could see Mr Tindall's plan back on the table, The New Zealand Herald reported today.
Deutsche Bank analyst Kristan Walker said Mr Tindall and PEP could well make an offer for the 20 percent held by the two supermarket players.
"It could be quite an opportune time for Stephen Tindall to come out with a privatisation plan and literally offer something on the table and take the stock off their hands -- that's an extra 20 percent that sits alongside his 50-odd percent, and then it's not so much of stretch to get to the compulsory acquirement level."
Market commentator Arthur Lim said funding such a move would not be an issue, with Mr Tindall's stakeholding and PEP among one of the most cashed-up private-equity funds around.
Nothing was stopping Mr Tindall going ahead with another privatisation bid, but without knowing whether Foodstuffs or Woolworths would appeal, such a move would be premature.
Foodstuffs and Woolworths have 20 working days to decide whether to appeal yesterday's decision to the Supreme Court, and yesterday both groups said they were considering their position.
