ORG ASX: Origin deal faces mounting opposition

, leaving the North American suitors with no option but to consider increasing their offer if they want the transaction to succeed.“In all honesty. I don’t think they have a choice now,” said Mr Hannah, whose firm is the 23rd biggest shareholder in Origin.

Origin shares have held above the offer price since the bid was cleared by the competition regulator last week, leaving about a 40¢ gap between the share price and the offer of about $8.81 a share. The shares were unchanged at $9.22 just before midday on Friday.hailed as the “deal of the year” in 2022

Origin’s 20 per cent-owned Octopus Energy affiliate in the UK has also experienced significant growth and an improved valuation.Morningstar on Friday advised Origin shareholders to reject the offer, which goes before a shareholder vote on November 23 in Sydney and requires 75 per cent approval to succeed.

The comments come after an independent expert hired by Origin to assess the cash offer deemed it “fair and reasonable”, citing a valuation range of between $8.45 and $9.48 a share. But the expert, Grant Samuel, also noted that the value of Origin could increase by 40¢ a share by the time the takeover is due to be completed in December, which would leave the offer price outside the range.

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