Origin Energy’s suitors Brookfield/EIG have raised their offer for Australia’s biggest energy retailer, in a bid to getThe takeover target on Thursday said the Brookfield-led consortium has bumped up its offer from $8.91 a share to $9.53 a share.
The revised offer, now worth an extra $1.2 billion, comes after Origin’s biggest shareholder, AustralianSuper, rejected the $8.91 a share put forward by the Brookfield-led consortium.AustralianSuper, which holds a 13.7 per cent stake in Origin, on Monday said that the consortium’s offer fundamentally undervalued Origin and its assets. The Brookfield-led consortium needs 75 per cent of Origin’s shareholders to approve its offer.
Origin chairman Scott Perkins said on Thursday that the sweetened offer fully reflected the energy company’s assets and its “strategic positioning for the energy transition.”“The revised consideration is now above the top end of the independent expert’s valuation range, allowing all shareholders to receive a certain cash value for their Origin shares.”Advisory firm Grant Samuel, in its report, has valued Origin’s shares between $8.45 and $9.48 a share.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brookfield, EIG bump Origin Energy bid to $9.53 a shareThe utility’s bidders are trying to bring the takeover to a head, but this latest offer is take it or leave it.
Source: FinancialReview - 🏆 2. / 90 Read more »
Imminent Failure of Bid for Origin Energy Demonstrates Upending of Energy MarketThe imminent failure of a bid for Origin Energy highlights the changing dynamics of the energy market and the growing power of Australia's industry superannuation funds. AustralianSuper's position as a major investor is critical to the fate of the vote on the deal. The consortium has a few weeks to decide on a higher price offer.
Source: FinancialReview - 🏆 2. / 90 Read more »
AustralianSuper to Vote Against Brookfield's $9.8b Offer for Origin EnergySuperannuation fund AustralianSuper plans to vote against a Brookfield-led consortium's $9.78 billion takeover offer for Origin Energy, citing the offer as substantially below its estimate of long-term value for Australia's biggest energy retailer.
Source: abcnews - 🏆 5. / 83 Read more »
AustralianSuper Rejects Brookfield's Takeover Bid for Origin EnergyAustralianSuper has confirmed that it will reject Brookfield's $18.7 billion takeover bid for Origin Energy, citing the company's value as a platform for Australia's energy transition.
Source: FinancialReview - 🏆 2. / 90 Read more »
Origin Energy suitors put another $1.2 billion on the tableBrookfield/EIG have raised their offer for Australia’s biggest energy retailer, from $8.91 a share to $9.53 a share, in a bid to get the blockbuster takeover across the line.
Source: smh - 🏆 6. / 80 Read more »
Origin Energy suitors put another $1.2 billion on the tableBrookfield/EIG have raised their offer for Australia’s biggest energy retailer, from $8.91 a share to $9.53 a share, in a bid to get the blockbuster takeover across the line.
Source: brisbanetimes - 🏆 13. / 67 Read more »