(Updates with detail on offer)
Nov 10 (Reuters) - Australia's Origin Energy Ltd (ORG) said on Thursday it received a non-binding proposal from a consortium led by Canada's Brookfield Asset Management, valuing the power and gas retailer at A$18.4 billion ($11.82 billion) on an enterprise value basis.
The Brookfield-led consortium has offered A$9.0 per share in cash, a near 55% premium to Origin's last close of A$5.81.
Origin said it intends to grant the consortium due diligence to make a final offer, and would recommend its shareholders vote in favour of the proposal if the consortium stuck to its indicative offer.
"Considering all the relevant factors, Origin has entered into a confidentiality and exclusivity agreement with the consortium," the Sydney-based company
said
. ($1 = 1.5562 Australian dollars)(([email protected]; Twitter: https://twitter.com/sameer_manekar))
News: ORG UPDATE 1-Australia's Origin Energy gets $11.8 bln buyout offer from Brookfield
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Last
$12.41 |
Change
0.040(0.32%) |
Mkt cap ! $21.37B | |||
| Open | High | Low | Value | Volume |
| $12.40 | $12.50 | $12.31 | $68.46M | 5.520M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 337 | $12.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.41 | 1000 | 1 |
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| ORG (ASX) Chart |