Do you ever feel that some of our biggest companies seem to slowly gobble up more of their smaller competitors? If so,you’re not alone – and Australian households are paying the price.
Energy giant Origin has delayed the shareholder vote on North American suitors Brookfield and EIG’s $20 billion takeover bid after getting a revised late-night offer.
Origin Energy chair Scott Perkins says the company will forge ahead with its plans to become a greener electricity provider if a $20b takeover bid fails.
Ivan Glasenberg wanted to buy Canada’s Teck Resources to bulk up Glencore’s base metals and coal operations. His successor now is halfway there.
One of Australia’s largest coal exporters will spin off its coal mines and more than 10,000 local employees into a New York-listed company.
AustralianSuper has rejected an 11th-hour overture from the Brookfield and EIG consortium to join their takeover of energy giant Origin.
Influential shareholder advisory firm ISS has backed North American consortium Brookfield and EIG’s bid to take over power giant Origin Energy.
The latest twist in the country’s largest corporate deal comes as AustralianSuper confirmed it has increased its ownership of the power giant,building its stake to 15.03 per cent.
While AustralianSuper’s reasons to reject the sweeter offer are valid,it probably hasn’t made any friends with Origin’s other shareholders.
Treasury Wines is upping its bet on the high-end market for wine with a deal to buy the fastest-growing luxury wine brand in the US.
The deal comes just weeks after Exxon Mobil’s $94 billion takeover of a shale company as oil companies bet that fossil fuels will remain central to the world’s energy mix for decades ahead.