In today’s briefing:
- Origin Energy (All But) Supports Brookfield/EIG’s Revised Terms
Origin Energy (All But) Supports Brookfield/EIG’s Revised Terms
- The Brookfield/EIG consortium has reduced its Offer for Origin (ORG AU) to ~A$8.90/share, down from A$9.00/share, after conducting due diligence in the wake of the Aussie government’s gas price intervention.
- Oddly, this revised proposal remains non-binding, suggesting a number of political kinks still need to be ironed out.
- For its part, Origin’s board reckons the revised proposal has the potential to deliver significant value to shareholders, all but guaranteeing board support, assuming a firm Offer unfolds.
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