Kevin McCann, chairman of Origin Energy, said: Origin is a strongly performing, Australian integrated energy company with an impressive track record of growth. Shareholders should also be aware that the average broker 12-month share price targets, ranging from A$17.01 to A$20, are materially above BG’s offer. Furthermore Origin’s average daily share price has been above A$15.50 since Origin’s rejection of this price on May 30, 2008.
Grant King, CEO of Origin Energy, said: Origin has successfully pursued a strategy of developing a fuel-integrated generation and retail business which has created substantial value for Origin shareholders. Origin has outstanding prospects as a strongly performing Australian integrated energy company with increasing exposure to growing demand and higher prices for Australia’s natural resources.
