Origin Energy Limited (ASX: ORG) received a proposal from a consortium on 16 February 2023, comprising Brookfield Asset Management Inc. and MidOcean Energy, to acquire all issued shares in Origin at AU$9.00 cash per share. However, the consortium has now presented a revised proposal that is conditional and non-binding, offering to acquire all Origin shares through a scheme of arrangement at a price of AU$8.90 cash per share. The Revised Proposal offers AU$8.90 per share for the first 100,000 shares held by each Origin shareholder, with additional shares above that threshold priced at AU$4.334 per share plus US$3.194 per share.
The consortium acknowledges that the use of US$ consideration is a reflection of Origin's Integrated Gas assets' underlying exposure, particularly the cash distributions from its 27.5% stake in Australia Pacific LNG. In case the scheme's completion is delayed beyond November 30, 2023, a ticking fee of 4.5 cents per month will be charged on a daily basis.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
