BG makes hostile $13.1bn Origin bid.Byline: PERTH: (Image: BG1.jpg ) British gas British Gas is the name of several companies
BG is taking its A$13.8 billion all-cash bid, valuing Origin at A$15.50 a share, direct to Origin shareholders after OriginCOs board rejected it last month. Origin claimed then that its coal seam Noun 1. coal seam - a seam of coal seam, bed - a stratum of ore or coal thick enough to be mined with profit; "he worked in the coal beds" coalface - the part of a coal seam that is being cut gas reserves alone were worth over $15 billion after it doubled its resource estimate to 10,000 petajoules. If successful, the deal would be the second-largest foreign takeover of an Australian company after Cemex, North AmericaCOs largest cement producer, bought Rinker Group The Rinker Group is an Australian-headquartered multinational building products company. It is listed on both the Australian Stock Exchange and the New York Stock Exchange. last year for $14.2 billion. BG said the offer, which represents a 48 per cent premium to OriginCOs close on April 29 before the bid was announced, reflects the value of OriginCOs integrated energy business and the long-term prospects of its coal seam gas reserves. C[pounds sterling]ItCOs no surprise BG would launch a hostile bid. ItCOs a very generous offer and I think some shareholders may be swayed sway v. swayed, sway·ing, sways v.intr. 1. To swing back and forth or to and fro. See Synonyms at swing. 2. and may decide to just take the money and run,C[yen] said Gavin Wendt, head of research at Fat Prophets Funds Management. A[umlaut umlaut (  m`lout) [Ger.,=transformed sound], in inflection, variation of vowels of the type of English man to men. ] Copyright 2008 www.tradearabia.com
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