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The long-term value of hotly contested $10.6 billion takeover target Origin Energy has been muddied by a government plan to accelerate the rollout of renewable energy, announced just hours before a...
The long-term value of hotly contested $10.6 billion takeover target Origin Energy has been muddied by a government plan to accelerate the rollout of renewable energy, announced just hours before a key shareholder vote. The Australian government announced plans on Thursday to underwrite 32 gigawatts (GW) of new wind, solar and battery projects. Two energy experts told Reuters it could spur investment worth at least A$30 billion ($20 billion).
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Origin shares have been trading above the offer price since the deal got an approval from the country's competition regulator on Oct. 10. Origin shares closed at A$9.17 on Monday, 4.1% above the offer price.
The Brookfield-led consortium has given no indications publicly it is considering upping the value of its bid for Origin ahead of the shareholder vote