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
$10.36 |
Change
-0.080(0.77%) |
Mkt cap ! $17.84B |
Open | High | Low | Value | Volume |
$10.42 | $10.48 | $10.36 | $24.90M | 2.394M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 36588 | $10.36 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$10.37 | 1639 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 32783 | 10.360 |
4 | 7068 | 10.350 |
2 | 6766 | 10.340 |
2 | 194 | 10.310 |
3 | 6001 | 10.300 |
Price($) | Vol. | No. |
---|---|---|
10.400 | 100 | 1 |
10.410 | 8416 | 1 |
10.420 | 101 | 1 |
10.430 | 13484 | 5 |
10.440 | 11307 | 2 |
Last trade - 16.10pm 28/05/2024 (20 minute delay) ? |
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Last
$10.41 |
  |
Change
-0.080 ( 0.24 %) |
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Open | High | Low | Volume | ||
$10.42 | $10.48 | $10.39 | 1137026 | ||
Last updated 15.59pm 28/05/2024 ? |
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