Origin Energy will be open to competing bids for the first time since the company was put in play, with Brookfield and EIG Partners’ exclusivity period set to end with still no deal in sight.
Origin Energy has extended exclusivity for its bidder twice. However, the agreement is due to expire on Tuesday.Origin and its bankers will be able to take calls from the likes of US-listed giant ConocoPhillips, private capital fund manager Global Infrastructure Partners, or even Australian telco giant Telstra, to test whether they’d also like a look under the bonnet.
Potential bidders and their bankers have spent the summer assessing whether they want to get involved in the situation. The situation’s understood to be delicately poised. There’s significant doubt in the market about whether Brookfield/EIG can stand up their $9 joint bid, or whether the pair seek to re-price the deal. Origin shares closed at $7.25 on Monday.Should the price talks start dipping below $9, it could open Origin up to other potential acquirers or deal structures.
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.
Albanese meeting with Bill Gates focused on energy innovationPrime Minister Anthony Albanese is keen to focus on further innovations in energy, meeting with billionaire-turned philanthropist Bill Gates. The Albanese government is using figures that forecast a drop in electricity prices to argue price caps on coal and gas are working.
Read more »
Europe’s ‘moderated’ winter affects global energy marketEurope’s “moderated” winter has caused the global energy market to “settle down a bit” amid Australia’s current energy price crisis, Lead Writer of The Australian Graham Lloyd says. “We’ve started the new year pretty much where we left off last year – with a bit of confusion and uncertainty in the energy markets,” Mr Lloyd told Sky News Australia. “The impact of the government’s interventions won’t be known for a long time and it will really decide the relations between the industry and the government and that’ll be what matters.”
Read more »
Dark energy ‘chameleon trap’ wins £100,000 prize for Nottingham scientistIngeniously simple lab experiment led by Prof Clare Burrage recognised by Blavatnik awards
Read more »
How should we export Australia’s renewable energy (if at all)?The collapse of Sun Cable, after its two billionaire backers couldn’t agree on its future, has ignited discussions about how Australia should export renewable energy.
Read more »
The sweet spot: is ethical and affordable chocolate possible?It is possible to pay farmers a premium while selling single-origin chocolate at a cheaper price – but it means companies have to transform the way it’s made
Read more »