Chairman Scott Perkins has told Origin shareholders the board took into account the business’ improved outlook when agreeing to the $18.7 billion takeover offer.
Origin Energy chairman Scott Perkins has told shareholders that the board took into account the improved outlook for the business when agreeing to an $18.7 billion takeover offer from two North American suitors.
Some institutional investors have called for the offer to be sweetened given the improvement in Origin’s performance and the market outlook since the deal was agreed.Commenting on the 2024 outlook at the AGM, CEO Frank Calabria said it had “marginally improved” since the full-year results in August. Origin shares closed on Tuesday at $9.30, 39¢ above the $8.91 a share level agreed by the parties in March. However, the price in March represented a premium of almost 50 per cent to Origin’s share price before the approval from the suitors was announced last November.“Ultimately, the scheme requires shareholder approval to proceed, and the board will continue to work to facilitate that,” Mr Perkins said.
“What has become increasingly clear this year, with several major renewable and transmission projects delayed, is Australia is not moving fast enough,” he said, cautioning of the cost of the transition for customers.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX 200 LIVE: ASX slips; Fletcher plunges 9pc; gold stocks jumpShares slip; SkyCity CEO and Qantas Loyalty chief resign; Liontown on halt; Magellan to convert Global Fund to open-ended; Gregg named Westpac chairman; Treasury launches 2054 bond. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, S&P 500 gains 1pc, oil easesAustralian shares are set to advance. Quarterly mining production reports pending. Wall Street rises on techs. $A rebounds. Follow updates here.
Read more »
ASX 200 LIVE: ASX to open higher, S&P 500 slips, Bullock chat, China dataAustralian shares are set for a modest opening advance. Two RBA speeches early, China GDP at 1pm. REA Group in focus. Follow updates here.
Read more »
Australian Shareholders’ Association calls for ASX chairman Damian Roche to step down within a yearThe Australian Shareholders Association wants ASX chairman Damian Roche to commit to a succession plan and threatens to vote against his re-election at the AGM.
Read more »
ASX 200 LIVE: ASX to fall; SkyCity CEO and Qantas Loyalty chief resign; Albemarle quits Liontown bid; Gregg named Westpac chairman; Treasury launches 2054 bondShares slip; SkyCity CEO and Qantas Loyalty chief resign; Liontown on halt; Magellan to convert Global Fund to open-ended; Gregg named Westpac chairman; Treasury launches 2054 bond. Follow updates here.
Read more »
Live updates: New chair for Westpac, senior leadership changes at Qantas, ASX opens lowerThe ASX is modestly down in morning trade, while Westpac announces a new chair and Qantas sees some more senior executive moves. Follow our blog for all the latest on markets as trading begins for the week.
Read more »