Sky News Business Editor Ross Greenwood says shareholders have urged Brookfield and EIG to raise their takeover price for Origin Energy after Australia’s largest electricity and gas retailer hiked its annual earnings guidance.
“Yesterday Origin Chairman Scott Perkins was hammered at its annual meeting as to why the board accepted, and that argument was enhanced by Origin profit upgrades,” Mr Greenwood said.
“Then, today Origin released the independent expert’s report into that takeover; Grant Samuel said the price for Origin is in the range of $8.45 and $9.48 … therefore, fair and reasonable.
“The independent report did something different by offering a valuation in December – when the deal is due to be completed.
“It suggests the value then could increase 40 cents a share by then meaning the ball is no longer in the park.”
Business and Finance | Herald Sun