Once again, the value left on the table by ASX lifted Mgt/Boards...

Once again, the value left on the table by ASX lifted Mgt/Boards is beyond belief. The PE guys just run rings around these dopey bureaucracies.

In 2018, Origin sold Acumen (now known as Intellihub) for a princely sum of $267m.
https://www.nsenergybusiness.com/news/deals/origin-energy-to-sell-metering-business-to-intellihub-for-202m/

Sold by none other than the current CEO.

PEP have in three years time, with debt funded capex, grown the business and sold it for an implied $3bn odd to Brookfield.

So Origin left just shy of $2.75bn on the table in a little under 3 years. Also known as 30% of today's market cap.

These big bureaucracy's never fail to underdeliver for shareholders who pay their salaries through thick and thin.

To make matters worse, as part of this WIN/Intellihub transaction.

Origin gave Intellihub long-term rights to the most valuable long duration cash stream (the digital meters)

And in return, Origin picked up a few retail customers whom it can try to hock a commodity with no structural tenor to the customer relationship.

Put simply, Origin gave away 20 year customer relationships, recurring and steady cash flows.
For an annual customer relationship at best.

They sold the long-term.
And bought the short-term.

This mantra could well be enshrined in the Company constitution of many of these bumbling ASX listed firms.