Entries tagged "Origin Energy"
As soon as BG Group plc abandoned Tuesday its hostile A$13.8 billion ($11.3 billion) bid for Origin Energy Ltd. after ConocoPhillips Co. snared the Sydney group with a far more lucrative joint venture, speculation began about the U.K. company's next target. ...
The battle for Origin Energy Ltd. rages on, with hostile bidder BG Group plc Friday turning to Australia's Takeovers Panel to pin its target down on what it sees as wildly overoptimistic assertions about its value and prospects. The regulator, while making no comment on the merits of BG's appeal, noted that the U.K. group wants Origin to issue a supplementary bidder's statement explaining, among other things, exactly why it considers BG's A$13.8 billion ($11.9 billion) bid too low and how alternative transactions Origin is pursuing for its coal-seam gas reserves are shaping up. Reading, England-based BG's hopes of clinching...
