Origin Energy Limited has requested the Takeovers Panel withdraw the application it made on July 24, 2008 in relation to the disclosure in the Bidder's Statement lodged by BG Group plc. Origin notes the announcement by the Takeovers Panel acceding to this request.
BG has now lodged two replacement Bidder's Statements, on July 24 and 30 respectively. In these replacement Statements, BG has addressed each of the fifteen issues that Origin raised with BG in relation to the disclosure in its original Bidder's Statement.
Origin sought these changes to ensure BG's disclosure is not misleading to Origin shareholders.
As announced on July 4, 2008, the Board of Origin intends to recommend that shareholders reject the conditional takeover bid. Origin's shareholders are advised that a Target’s Statement will be provided in mid August, containing reasoning for the Board's recommendation to reject BG's conditional takeover bid. In the meantime, Origin shareholders should take no action and ignore all correspondence and contact from the BG Group.
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