Tuesday, February 4

Tag: transactions

Brookfield’s Origin Saga Shows It’s Hard to Price Polluters—Analysis
29Nov By adminNo Comments
World

Brookfield’s Origin Saga Shows It’s Hard to Price Polluters—Analysis

Nov. 29, 2023 12:05 am ET|WSJ ProSYDNEY—At the heart of a nearly US$11 billion takeover tussle for the owner of several Australian coal-fired power plants is a key question for investors: how to value a major polluter that could also become a big enabler of the energy transition.It isn’t proving easy. A consortium led by Brookfield Asset Management has made an offer for Origin Energy worth 9.43 Australian dollars a share, equivalent to US$6.21 a share, that it says is fair to shareholders. Brookfield says it will spend up to US$30 billion on accelerating Origin’s shift to renewable energy and storage over the decade through 2033.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Think Companies Are Struggling to Fill Offices? Look at the Government
28Nov By adminNo Comments
World

Think Companies Are Struggling to Fill Offices? Look at the Government

The Biden administration is telling federal employees to get back in the office on a more regular basis. It isn’t having much better luck than private companies. The White House has been amping up the pressure on federal agencies to increase their return-to-office rate. White House chief of staff Jeff Zients sent an email in August to cabinet agencies instructing them to “aggressively execute” a shift to more in-person work in the fall. But administration officials say their return-to-office goals still haven’t been reached. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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China Property Stocks Jump on Hopes for ‘White List’ Financing
23Nov By adminNo Comments
World

China Property Stocks Jump on Hopes for ‘White List’ Financing

Updated Nov. 23, 2023 12:04 am ETChinese property stocks climbed in Hong Kong trade amid rising hopes that Beijing will soon make dozens of companies eligible for financing, including developers that have defaulted on debt.The Hang Seng Mainland Properties Index, which tracks Chinese property developers, rose 4.3% on Thursday morning, lifting gains this week to 9.1%. CIFI Holdings surged 55% and Sino-Ocean Group gained 28%, while Country Garden Holdings, Kaisa Group, Agile Group, Guangzhou R&F Properties and Logan Group all gained between 11% and 18%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield Consortium’s Revised Origin Energy Offer Fails to Convince Biggest Shareholder
23Nov By adminNo Comments
World

Brookfield Consortium’s Revised Origin Energy Offer Fails to Convince Biggest Shareholder

Updated Nov. 23, 2023 12:11 am ETSYDNEY—A consortium led by Brookfield Asset Management made last-ditch changes to its near US$11 billion offer for Origin Energy but failed to convince Origin’s biggest shareholder to back the deal.The revised proposal, submitted Wednesday evening, forced the Australian energy company to postpone Thursday’s Sydney shareholder meeting just two hours before it was due to start. Shareholders, led by superannuation fund AustralianSuper, were unlikely to sufficiently support the prior offer, said Origin, as it postponed the shareholder meeting to Dec. 4.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Fitch to Withdraw Ratings on Country Garden Services
13Nov By adminNo Comments
World

Fitch to Withdraw Ratings on Country Garden Services

Nov. 13, 2023 12:16 am ETFitch Ratings will withdraw all ratings on Country Garden Services next month, a move that comes months after it downgraded the sister company of troubled Chinese property giant Country Garden Holdings.The ratings company said Monday it would drop coverage of CGS around Dec. 12 for “commercial reasons,” without elaborating.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Origin’s Largest Shareholder Turns Down Chance to Join Takeover Consortium
13Nov By adminNo Comments
World

Origin’s Largest Shareholder Turns Down Chance to Join Takeover Consortium

Nov. 13, 2023 12:33 am ETSYDNEY—Origin Energy’s largest shareholder said it rejected an offer to join the Brookfield Asset Management-led consortium trying to buy the Australian power retailer and generator.AustralianSuper on Monday said that the consortium had offered it the chance to discuss taking an interest in Origin on successful completion of a proposed takeover worth around US$10.50 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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