A twice-extended exclusive period granted to bidding partners Brookfield and EIG to access Origin Energy’s books and firm up their $18.4 billion offer has lapsed, leaving investors in the large electricity and gas supplier in the dark on the fate of the mega-takeover deal.
Sources close to Origin and the bidding groups highlighted multiple factors that justify the extended time being taken to complete due diligence. These include the aggressive initial timetable, the fact two bidders are involved, the size and complexity of the deal, as well as the complication of the government intervention in energy markets.But some in the market are zeroing in on the intervention as a likely primary factor putting the deal – or at least the pricing – at risk.
“So I would argue, should this deal fall over, it is very clear evidence of how much value the government is destroying with their actions.” One investor said the share price simply reflected the level of uncertainty around the proposal, and noted there had never been an actual bid on the table, only the intention to make a bid subject to several conditions.Those conditions include approvals from the Foreign Investment Review Board and the competition watchdog, with the latter expected to be particularly interested givenbetween Origin and the AusNet business already owned by Brookfield.
That gives confidence in the bidders’ appetite for the assets, and in the price they are prepared to pay, as well as shows the board has a clear view on value, the investor said.
What are the other factors (in the interest of balanced reporting)?
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 Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chief Minister claims NT does not need federal intervention from police or militaryChief Minister Natasha Fyles has claimed the Northern Territory has the resources to combat the crime in Alice Springs, adding the deployment of the Australian Federal Police or military is unnecessary. Then why aren’t they 🤷♂️ If Morrison fixed this problem in HIS TERM and especially when he visited Alice 8 months ago, specifically to address this issue, Alice Springs would not be in this situation now! DUTTON only flapping gums about this to divert attention away from ROBODEBT! So that’s why they’re calling the ADF for help.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'Shameful chapter': Intervention ends in the NT after 15 yearsWhat went wrong in Alice Springs? Labor MP for Lingiari Marion Scrymgour has lived and worked across the Territory all her life. She says the spike in crime and violence may be due to a major oversight. More on the Howard-era 'Intervention' policy here: What... is this a joke? Albo is currently in Alice because of the massive spike in crime, that came about at the end of intervention measures. Such as alcohol bans. You're damned if you do and damned if you don't. If you can't get the horrific rate of child sexual abuse under control within your own community, then other people will do it for you. When that happens, you're no position to complain. Take responsibility and stop blaming others. My nurse mate not long ago returned from a placement there, and based on her reports its not just race based issues. Lack of support, funding and feet down in those Communities were issues that caused a perpetual cycle. I agreed to help her raise those issues internally
Source: SBSNews - 🏆 3. / 89 Read more »
Origin Energy exclusivity set to pass, eyes on $9 markerOrigin 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.
Source: FinancialReview - 🏆 2. / 90 Read more »
Origin Energy exclusivity set to pass, eyes on $9 markerOrigin 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.
Source: FinancialReview - 🏆 2. / 90 Read more »
PM ‘asked’ to visit Alice Springs amid crime crisis: Jacinta PriceNT Senator Jacinta Price says she is “asking” Prime Minister Anthony Albanese to visit Alice Springs amid calls for federal intervention into the town’s crime crisis. “He’s made several overseas trips to visit countries in need of support, but Alice Springs has been described as a warzone and has been so for some time now,” Ms Price told Sky News Australia. She said the Alice Springs police are “under the pump” and can’t “get the problem under control”. “It’s horrifying, and it’s sad that my hometown is currently faced with this situation,” Ms Price said. Don't worry Jacinta, Don't worry,he is not in Hawaii like your hero LNP clown Albanese will have to be asked, and begged, he is not a leader! Caveat.. with no security & has to stay on the streets for at least a week to get the full experience.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Government has made an ‘enormous mess’ with gas price capsManger of Opposition Business Paul Fletcher says the government has created an “enormous mess” with its “rushed approach” to imposing gas price caps. This comes as energy company Shell has ended its freeze on east coast gas producers, offering new supply deals to the Australian market. Mr Fletcher said the price caps were a 'significant intervention'. 'And the outcomes of it are, on the basis of previous interventions and imposing price caps, it’s very hard to be confident this will provide benefits,” Mr Fletcher told Sky News Australia. While you were Sleeping!!! “Energy Costs Set to Fall” Just go back to sleep Fletcher PaulFletcherMP Imagine if the LNP had made sure domestic supplies were guaranteed before allowing export of our gas!
Source: SkyNewsAust - 🏆 7. / 78 Read more »