Origin Energy receives non-binding, indicative offer at AU$9.00; Shares up on ASX

Origin Energy Limited (ASX:ORG) announced that it has received an indicative, conditional and nonbinding proposal from Brookfield Asset Management Inc., and its affiliates and their managed funds (Brookfield) and MidOcean Energy , an LNG company formed and managed by EIG (the Consortium), to acquire all the issued shares in Origin, via scheme of arrangement, at AU$9.00 per share. This offer values origin at AU$18.4 billion.

Under the Indicative Proposal, the price payable under the Indicative Proposal would be reduced by the amount of any dividend paid by Origin before implementation of the planned scheme of arrangement. However, if implementation occurs after 15 May 2023, the offer price under the Indicative Proposal will then surge by AU$0.03 per month.

The Indicative Proposal is conditional on numerous conditions. It includes:

• The Consortium completing satisfactory due diligence.
• Agreement of, and entry into, a binding scheme implementation agreement conditional on various conditions including approvals by the ACCC and Foreign Investment Review Board.

At AEDT 11:59 AM, ORG shares are trading at AU$7.845, up 35.025% from the previous close. 

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