Australian (ASX) Stock Market Forum

ORG - Origin Energy

Jump to new
Dona Ferentes said:
Brookfield Asset Management and private equity firm MidOcean Energy have lobbed a surprise $18.4 billion takeover bid for Origin Energy, after twice increasing their offer price.

The pair are offering $9.00 a share cash for Origin, after raising their initial bid from $7.95 a share.

Five year chart

View attachment 148991
Click to expand...
Good one.

I was surprised by the offer. I have held ORG for eons, way before Chess times and it sits in my SMSF Commsec Account in a below the line space along with other long term holdings with strange HINs.

I couldn't work out why I was outperforming the XAO today, and there it was. ORG at an indecent price.

Let the bidding begin. Onwards and upwards.

Price target $15 just to even my holdings up.

gg
 
Garpal Gumnut said:
... I was surprised by the offer. I have held ORG for eons, way before Chess times and it sits in my SMSF Commsec Account in a below the line space along with other long term holdings with strange HINs.
gg
Click to expand...
Didn't ORG spin out of Boral way back when? ... and was quite the success story

the strange HINs could be SRNs?
 
Dona Ferentes said:
Didn't ORG spin out of Boral way back when?
Click to expand...
Yep.

And Boral itself created what became Origin by progressively taking over every small gas and LPG company they could find, indeed they bought most of them during the 1980’s.

The oldest predecessor company being the Launceston Gas Company, established 1857 and acquired by Boral circa 1980.
 
Smurf1976 said:
Yep.

And Boral itself created what became Origin by progressively taking over every small gas and LPG company they could find, indeed they bought most of them during the 1980’s.

The oldest predecessor company being the Launceston Gas Company, established 1857 and acquired by Boral circa 1980.
Click to expand...
It's an interesting move IMO, should make AGL step up the pace, interesting times ahead IMO.
 
sptrawler said:
It's an interesting move IMO, should make AGL step up the pace, interesting times ahead IMO.
Click to expand...
ORG is ideally placed for the future renewable energy space.

With gas, wind, solar and hydrogen assets anyone who accepts this $9 offer needs their head read.

I would consider at $15, unless another suitor appeared, when I'd need to consider higher.

gg
 
Smurf1976 said:
And Boral itself created what became Origin by progressively taking over every small gas and LPG company they could find, indeed they bought most of them during the 1980’s.
Click to expand...
1668065684905.png
 
The one issue I can see here is government.

Given current circumstances in the energy industry, a potential issue is that the buyer is foreign.

In short my thinking is the Australian Government wouldn't stop Brookfield acquiring Origin as an ongoing Australian company but would likely be far less keen on it becoming a foreign company as such. That way from a legal perspective the Australian Government holds jurisdiction over it.

Just speculation on my part but it wouldn't surprise me given circumstances in the industry at present and same applies to any major player. Bearing in mind that the precedent well and truly exists - for most of their existence AGL and the predecessor gas companies merged into Origin were indeed protected in terms of who could own them. Santos was also subject to regulation in the past of a similar nature to prevent "undesirable" people buying up enough shares to have influence. :2twocents
 
The Takeover Committee here at the pub feels the ACCC may not look kindly on Brookfield's bid for ORG.

The Audit and Risk Committee suggests contacting Twiggy Forrest for a $15 bid.

gg
 
Garpal Gumnut said:
The Takeover Committee here at the pub feels the ACCC may not look kindly on Brookfield's bid for ORG.

The Audit and Risk Committee suggests contacting Twiggy Forrest for a $15 bid.

gg
Click to expand...
not Gina ? , because Twiggy has a lot of plans and balls in the air already , and ORG has a few bridges to mend

i also doubt Twiggy would offer $15 , but maybe the Stokes' would go $10 for a controlling stake ( and seats on the board )
 
Hmm, no love for ORG its seems.
Anyways, pending further approvals looking like another, major Aussie company is being gobbled up by foreign interests.

From 10 Oct 2023

ACCC grants authorisation.

Origin Energy Limited (Origin) today noted the Australian Competition and Consumer Commission (ACCC) has granted authorisation for the proposed acquisition of the Company by the Consortium comprising Brookfield Asset Management (Brookfield) and MidOcean Energy, an entity managed by EIG Partners.


The authorisation is granted on the basis of undertakings which have been provided separately by Brookfield, AusNet and MidOcean and which have been published by the ACCC.
The ACCC’s decision marks an important milestone in the proposed acquisition of Origin and the parties will continue to progress with the next steps in the Scheme process. Origin notes that the transaction remains subject to the satisfaction of outstanding conditions, including additional regulatory approvals by the Foreign Investment Review Board, National Offshore Petroleum Titles Administrator and certain other foreign investment approvals.
 
divs4ever said:
hard to have love for them ( or their major rival ) if you have had dealings with them

( i am a former ORG shareholder and customer )

maybe the ACCC board have had similar experiences
Click to expand...
Yes, personally I was a near 3 decade long domestic/retail customer but when they failed to refilled 3 x 90kg LPG bottles in the height of winter, I warned them the first time and again the second time but, for me it became 1 then 2 then 3 strikes and ORG, you are out of here.

I still hold as was purchased long, long ago, around the time ORG was spun out from BLD if I remember correctly.
 
Craton said:
Yes, personally I was a near 3 decade long domestic/retail customer but when they failed to refilled 3 x 90kg LPG bottles in the height of winter, I warned them the first time and again the second time but, for me it became 1 then 2 then 3 strikes and ORG, you are out of here.

I still hold as was purchased long, long ago, around the time ORG was spun out from BLD if I remember correctly.
Click to expand...
i sold out of them in 2017 @ $9.45 ( crystallizing a small profit after some interesting times , including 'flipping ' to buy back into a capital-raising )

they aren't so good at honoring extended warranties either
 
Brookfield and EIG Partners have come back in the takeover battle for Origin Energy, increasing their offer for the country’s largest energy utility to $9.53 a share and declaring it their final bid under the scheme deal
 
And a big drop in share price to below $9.

Market must think that the final offer isn't generous enough for the big holders to accept.
 
Top