BG Group bids $12 bln for Aussie energy retailer
AFP, April, 2008
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LONDON (AFP) — British oil and gas giant BG Group said Wednesday it has bid 12.1 billion US dollars (7.8 billion euros) in cash for Origin Energy, Australia's second-largest energy retailer.
The announcement came alongside news that BG Group's net profit had soared 77 percent to 767 million pounds (971 million euros, 1.51 billion US dollars) during the first quarter of 2008.
BG Group said it had offered 14.70 Australian dollars (13.67 US dollars) a share for Origin. That represented a more than 40 percent premium to Origin's closing price of 10.47 Australian dollars on Tuesday.
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The Australian group said in a separate statement: "Origin has not yet considered the proposal. Discussions between the parties will take place and shareholders will be advised of the outcome."
BG Group has been active in Australia this year, striking ...
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