Brookfield and EIG Partners need a “voting miracle” to secure approval from Origin Energy shareholders for their $20 billion takeover offer for the major energy supplier as Origin’s biggest shareholder digs in to vote against the deal.
Brookfield’s Asia-Pacific head, Stewart Upson, is urging Origin shareholders to accept the sweetened offer.Morningstar said the sweetened offer from the two North American suitors, of $9.53 per share was 12 per cent above its standalone valuation for Origin of $8.50, and represented a “reasonable” premium. Origin’s board has recommended shareholders accept.
, dipped a further 2 per cent in early trading on Friday to $8.30. The shares were at $9.42, down 0.5 per cent, by mid-morning. “Otherwise they are effectively depriving all other shareholders of their ability to monetise their holding at a premium.”Mr Kavonic said big industry super funds needed to be careful that their presence on a register did not create a perception of a takeover deterrent or as a hurdle to management’s strategic decisions.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: theage - 🏆 8. / 77 Read more »
Source: smh - 🏆 6. / 80 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: brisbanetimes - 🏆 13. / 67 Read more »