Yes, and they hold about 14% of ORG. With 75% of the vote required for the takeover to proceed, it looks dead in the water for now.Seems that AustralianSuper isn't the happy chappy.
now up to 15.03 per centYes, and they hold about 14% of ORG. With 75% of the vote required for the takeover to proceed, it looks dead in the water for now?
I wonder if a deal might be done that gives Australian Super a stake in ORG's assets along side Brookfield?
once committed, yes. and you'd think as the holding increases, others would think the Brookfield offer would slip away and so others would take the 8.50ish on market now rather than hope for 9.53 laterToday's notice - Aus Super holding 16.50% as at 13/11/23.
And I'm sure they are still buying.
This is my dilemma, take the 8.50 or risk losing it, i kind of support ASuper as Origin has some great assets and should be kept in Aust hands.once committed, yes. and you'd think as the holding increases, others would think the Brookfield offer would slip away and so others would take the 8.50ish on market now rather than hope for 9.53 later
What are their great assets? Not being funny and I don't hold, but as gas on the East coast is shaky and coal is completely on the nose, do they own a lot of transmission assets?This is my dilemma, take the 8.50 or risk losing it, i kind of support ASuper as Origin has some great assets and should be kept in Aust hands.
Brookfield and EIG invited AusSuper to engage with the bidding consortium on an agreement that could have seen it retain a stake in Origin’s energy markets business equivalent to its [then] 15.03 per cent stake in the whole company, and accept cash for its interest in the integrated gas business.What are their assets?
And in the current climate of coal/gas generation is having to cede to renewables, which is causing huge maintenance and economical issues for coal generation, it would indicate they have a lot of embedded gas generation and good gas reserves?Brookfield and EIG invited AusSuper to engage with the bidding consortium on an agreement that could have seen it retain a stake in Origin’s energy markets business equivalent to its [then] 15.03 per cent stake in the whole company, and accept cash for its interest in the integrated gas business.
Brookfield and EIG want to split Origin’s assets between them, with Brookfield taking the energy markets business, including power generation and retailing, and EIG taking its 27.5 per cent stake in the Australia Pacific LNG venture.
Just had a left field thought, could someone be going in to bat for the Govt? To stop a rogue 'green' raider getting control and the ultimate say over whether a coal generator stays on, or stays off?Brookfield and EIG invited AusSuper to engage with the bidding consortium on an agreement that could have seen it retain a stake in Origin’s energy markets business equivalent to its [then] 15.03 per cent stake in the whole company, and accept cash for its interest in the integrated gas business.
Brookfield and EIG want to split Origin’s assets between them, with Brookfield taking the energy markets business, including power generation and retailing, and EIG taking its 27.5 per cent stake in the Australia Pacific LNG venture.
It will be interesting to see how that works out for shareholders.Results of the Scheme Meeting Origin Energy Limited (Origin) today held the Scheme Meeting at which shareholders were asked to vote on the proposed acquisition of Origin involving the Brookfield-led consortium of investors (Brookfield) and EIG, by way of a Scheme of Arrangement (Scheme).
Results of the Scheme Meeting The resolution to approve the Scheme (Scheme Resolution), as set out in the Notice of Scheme Meeting included in the Scheme Booklet released to ASX on 19 October 2023, was not approved by the requisite majorities of Origin shareholders with:
1. 68.92% of the votes cast by Origin shareholders in favour of the Scheme Resolution;
and 2. 77.83% of Origin shareholders present and voting at the Scheme Meeting in favour of the Scheme Resolution.
The results of the Scheme Meeting are attached to this announcement.
Origin Chairman Scott Perkins said, “Shareholders turned out in significant numbers to have their say on the future of the Origin. Throughout this process, the Board has focussed on ensuring all Origin shareholders recognise that their vote is important.
“While the scheme will not proceed, it was supported by many Origin shareholders. Importantly, this process has made clear the confidence all shareholders have in Origin’s business, assets and people, and its strategic positioning for the energy transition.
“We look forward to the continuing support of our shareholders as we focus on delivering on our strategic priorities, accelerating investment in cleaner energy and storage and pursuing our ambition to lead the energy transition,” Mr Perkins said.
i lost patience with them in December 2017 ( and took the $9.45 a share )It will be interesting to see how that works out for shareholders.
All these energy companies have had take over offers and then struggled to get back to the offer price, but promise they are going to improve then don't.i lost patience with them in December 2017 ( and took the $9.45 a share )
they have done nothing to endear me since ( they were originally to become a 'core holding ' just like AMP and WOW , just as well i admitted errors and changed that plan )
but gee those loyal shareholders ( the 30% who voted to stay ) had better start shaking up the business
nearly 70% have declared their weak hands
well the theory is essential infrastructure is 'a safe haven ' ( there will always be demand .. in theory )All these energy companies have had take over offers and then struggled to get back to the offer price, but promise they are going to improve then don't.
Just look at the long term graphs on the asx google link, none of them have done much, considering the inflated price of their products, so is it because of bad contracts, bad management, or an uncertain industry?
I mean can someone tell me where this goes from here, when apparently fossil fuel is on the nose, is it just blind faith or does someone know something that the graphs aren't showing?
They seem to be the same price as they were in 2008 and they have sold a lot of their product, is there something I'm not seeing, apart from blue sky dreaming?
SANTOS
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I did have a quick flutter on AGL at $6 something and jumped out at around $12, but IMO a risky game.well the theory is essential infrastructure is 'a safe haven ' ( there will always be demand .. in theory )
now maybe some believe in the plan for smug (OOPS smart ) cities and their one zillion nefarious uses of electricity at the tax-payers expense ( paying for you own jail , but telling you it is security )
meanwhile 'the gold-plated wires' game goes on making a few obscenely rich ( namely the creative accountants )
well my Ausnet ( or whatever they changed to ) , got taken-over ORG well you know the story there , AGL i had some personal interactions before inheriting shares so they were No. 2 on my AVOID list starting out ( just above DJS who ripped off my widowed mum ( and YES i do hold grudges for more than 40 years )I did have a quick flutter on AGL at $6 something and jumped out at around $12, but IMO a risky game.
IMO the Eastern States electricity market is a quagmire of confusion, driven by a blind belief in an ideology, looking for a sponsor.
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