Takeovers Panel: BG Says Deficiencies In Origin Statement
Friday August 29th, 2008 / 6h46
SYDNEY -(Dow Jones)- Australia's takeovers regulator said Friday that BG Group PLC (BG.LN) has asked it to force Origin Energy Ltd. (ORG.AU) to supply further information to support its formal rejection of the U.K. gas giant's A$13.83 billion takeover bid. The Takeovers Panel said BG alleges that deficiencies in Origin's target's statement response, lodged Aug. 19, include inadequate and misleading disclosures around the value of its coal seam gas assets and the risks shareholders face if they reject BG's A$15.50-per-share bid. The panel said BG is seeking orders that Origin be forced to issue a supplementary target's statement and have any independent expert appointed by Origin consider the potential effects of reversionary rights held by Tri-Star over some of Origin's coal seam gas tenements. The Takeovers Panel said that no decision has yet been made on whether to conduct proceedings in the matter. -By Bill Lindsay, Dow Jones Newswires; 61-2-8235-2956; bill.lindsay@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=zqA%2BjI6lIzdxa%2FbHsvt05w%3D%3D. You can use this link on the day this article is published and the following day.
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