Origin Energy chairman Scott Perkins says his board will do what it can to ensure investors are happy with Brookfield’s takeover bid.
Origin Energy chairman Scott Perkins says his board will do what it can to ensure investors are happy with the takeover bid, after acknowledging shareholder concerns that Brookfield’s current offer undervalues the group.
Origin Energy’s chairman, Scott Perkins, acknowledged that some of its biggest shareholders are unhappy with the current offer.“We remain engaged with the consortium and shareholders to facilitate a successful scheme,” Perkins told shareholders, after acknowledging that the share price closed on Tuesday 39¢ a share above the $8.91 offer price.
Origin’s largest shareholder, AustralianSuper, is just one of the shareholders that have publicly agitated for a higher price for the business. According to Perkins, the Origin board was cognisant of the fact that the independent expert report would evaluate the current performance and prospects for Origin when the board agreed to the deal in March.This will include the strong recent performance of Origin’s UK energy retailer Octopus, which is now the second-largest operator in the country and recording earnings before interest, tax, depreciation and amortisation of $240 million last year. Origin has a 20 per cent interest in Octopus.
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