AustralianSuper's strong opposition to Origin Energy (ASX:ORG) folding and agreeing to be bought late last year by a joint venture of Canadian and US investors has certainly paid off for Origin shareholders.
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Fund Manager Chris Pedersen discusses Baby Bunting Group, Origin Energy and Ventia Services Group.
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Fund Manager Chris Pedersen discusses Megaport, Pinnacle Investment Management Group, Origin Energy and GQG Partners.
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Today marks the judgment day for Origin Energy, as trading in the company's shares is set to resume later on Tuesday. This comes after the well-anticipated defeat of the $20 billion bid for the company by Canada's Brookfield and the US's EIF.
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The $20 billion (enterprise value) bid for Australia's Origin Energy (ASX:ORG) has been defeated, leaving the company to chart its own path once again.
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In the ongoing Origin Energy (ASX:ORG) takeover saga, the company's board has rejected the third offer from suitors Brookfield of Canada and US investor EIG. This rejection appears to have put an end to the prolonged takeover battle.
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By next Sunday, it will be clear whether Canada's Brookfield and EIG of the US have a chance of gaining approval at Origin Energy's adjourned shareholders' meeting on Monday, December 4.
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The revised bid structure from Brookfield and EIG for Origin Energy (ASX:ORG) appears to be in jeopardy, based on market sentiment and reactions from key stakeholders. Australian Super's rejection of the new proposed offer and the lukewarm response from the Origin board have cast doubts on its approval at the upcoming shareholders' meeting on December 4.
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The Origin Energy (ASX:ORG) board decided to postpone Thursday's shareholder meeting, originally scheduled to vote on the $20 billion offer from Canada's Brookfield and EIG of the US.
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Trading in Origin Energy (ASX:ORG) shares has been halted after Canada's Brookfield and EIG Partners of the US, the company's suitors, introduced a new bid structure to address the imminent defeat of their second offer at an Origin shareholders' meeting in Sydney.
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Origin Energy has also offered shareholders a special dividend on approval of the merger scheme, which is to be voted on in 10 days' time.
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AustralianSuper has moved closer to constructing a blocking stake against the proposed $20 billion takeover offer for Origin Energy (ASX:ORG) from Brookfield of Canada and the smaller EIF group of the US.
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The $20 billion takeover of Origin Energy (ASX:ORG) now hangs in the balance after AustralianSuper, the company's biggest shareholder, rejected a higher takeover price on Thursday.
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A snapshot of the stocks on the move, featuring Origin Energy (ASX:ORG), Sunstone Metals (ASX:STM) and Chimeric Therapeutics (ASX:CHM).
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The ACCC announced on Tuesday morning that it has granted conditional clearance to the $18.7 billion bid for Origin Energy (ASX:ORG) by Brookfield and MidOcean.
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13 Jul 2023 – Origin Energy (ASX:ORG) is set to receive $70 million in funding from the Federal Government for its proposed Hunter Valley Hydrogen Hub partnership with Orica (ASX:ORI).
Read MoreThe price caps and other government moves to rein in rising prices that so worried Origin Energy investors have instead ended up being beneficial in Australia and the UK.
Read MoreThe recent travails we’ve seen in global markets and the finance sector in particular haven’t scared off potential bidders for two local companies: Origin Energy and distiller United Malt.
Read MoreShares in Santos jumped sharply Wednesday as its annual profit more than tripled because of the surge in oil and LNG prices over 2022 that is fading as we head deeper into 2023.
Read MoreDoubts persist about the $18.4 billion bid for Origin after Tuesday saw bidders Brookfield and EIG Partners granted a third extension to their exclusive due diligence period.
Read MoreShares in Origin Energy jumped 40% at one stage yesterday after directors supported a buyout offer from a consortium led by Canada’s Brookfield Asset Management.
Read MoreIt is Origin Energy’s domestic gas supplies, rather than exported LNG, that has of late been delivering higher profits and shareholders could reap the benefit sometime soon.
Read MoreOrigin Energy yesterday revealed it had sold its gas development rights in the NT’s Beetaloo Basin, while hinting that it was looking at exiting nearly all upstream exploration permits.
Read MoreThe local reporting season rolls on and here’s the pick of today’s batch of updates from energy powerhouse Origin, ambitious miner Evolution and global vintner Treasury Wines.
Read MoreOrigin Energy has invested another $163 million to maintain its 20% stake in Octopus Energy, taking its total investment in the UK’s fastest growing energy provider above $700 million.
Read MoreOutperform retained, target falls to $6.87 from $7.08 on forex adjustments.
Read MoreThe Buy rating is retained and the target rises to $7.70 from $7.55.
Read MoreThe Hold rating is retained, while the target price falls by -8% to $6.17.
Read MoreWednesday’s ASX trading session has come and gone, with some major – and majorly bad – news for Origin Energy among the day’s tidings, along with expansion plans for South32.
Read MoreBuy and $7.00 target retained.
Read MoreTarget price rises to $6.30 from $6.20. Neutral rating retained.
Read MoreThe Outperform rating is retained and the target price increases to $6.81 from $6.70.
Read MoreOrigin Energy has decided to monetise the recent surge in global oil and gas prices into a $250 million on-market share buy-back starting next month.
Read MoreIn advance of weekend news of a potential takeover for Origin Energy, Morgans penned new research which led to a downgrade in rating to Hold from Add, on valuation considerations. Target price is $6.23.
Read MoreOrigin Energy’s news about the closure of its huge Eraring power station in the Hunter Valley overshadowed the mixed bag of a half year result for the energy group on Thursday.
Read MoreOrigin Energy has shocked with a decision on Thursday that could see it close its huge Eraring coal fired power station in the Hunter Valley of NSW seven years earlier in mid to late 2025.
Read MoreA big payoff for LNG player Origin Energy from 2021’s gas price surge thanks to shortages in Europe, China, Japan and South Korea, aided by cold winter weather in those regions.
Read MoreOutperform rating retained. Target price increases to $5.590 from $5.69.
Read MoreBuy rating retained. Target is raised to $6.00 from $5.85.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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