BG bids for Origin Energy
Posted: 30 April 2008
BG Group, a global integrated gas major, has approached Origin Energy Limited, Australia's largest integrated energy company, with a proposal to acquire all of the shares in Origin at a cash price of A$14.70 per share.
The proposal is subject to shareholder and regulatory approvals and other terms and conditions common to transactions of this type.
Origin has not yet considered the proposal. Discussions between the parties will take place and shareholders will be advised of the outcome.
BG Group advises that it intends that its cash requirement for the proposal will be met from existing cash reserves and debt financing provided by a syndicate of banks.
Posted by Richard Price, Editor, EnergyME.com
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