It is hard to see share price falling materially if the vote fails.
There is a lot of support for the existing share price.
1. Brookfield and EIG have bid $9.53/share indicating they think it is worth at least that.
2. AusSuper and reportedly some other funds are rejecting $9.53/share as they think it is worth more than that.
3. The independent valuation supported a mid-point valuation of $8.97/share as at 30 June 2023 which it also estimated could be approx 40c/share higher ($9.37/share) by middle of December 2023.
4. The closest trading comparison, AGL Energy, is up over 40% since the original bid. So even without the offer there is a good chance that ORG would be trading 40% higher than a year ago too (over $8/share).
5. The share price is trading at a material discount to the offer price. So the market has already priced in a high chance of the deal not going through.
6. The bidders are reported to be working on another offer (that would require >50% acceptance) if this offer fails so that will also provide support to the share price.
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Last
$10.66 |
Change
-0.100(0.93%) |
Mkt cap ! $18.36B |
Open | High | Low | Value | Volume |
$10.75 | $10.81 | $10.61 | $34.57M | 3.233M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 32637 | $10.66 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$10.67 | 14221 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 32442 | 10.660 |
3 | 17737 | 10.650 |
2 | 17294 | 10.640 |
4 | 20681 | 10.630 |
1 | 94 | 10.610 |
Price($) | Vol. | No. |
---|---|---|
10.700 | 33526 | 3 |
10.710 | 7642 | 1 |
10.730 | 2106 | 2 |
10.750 | 1364 | 2 |
10.760 | 1882 | 2 |
Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
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ORG (ASX) Chart |