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Origin Energy rejects BG Group bid

A $17,775.03 m

Entry date - Friday, 4 July 2008
Jurisdiction - Australia, New Zealand
Practice - M&A
Origin Energy, the Australian natural gas company, rejected a takeover offer from BG Group, a UK-based gas company.

Firm Allen & Overy Shook Lin & Bok Client BG Group Lead Lawyers Role	Firm Clayton Utz Client Origin Energy Limited Lead Lawyers Role	Firm Mallesons Stephen Jaques Client BG Group Lead Lawyers Role
Firm Simpson Grierson Client BG Group Lead Lawyers Role

DEAL SUMMARY

Origin Energy, the Australian natural gas company, rejected a takeover offer from BG Group, a UK-based gas company.

BG made a hostile offer to shareholders after Origin rejected its initial AU$13.8 bn cash bid. However, BG’s board today rejected the second offer of AU$15.50 cash per share.

Mallesons Stephen Jaques acted for BG, advising on Australian aspects of the transaction.

Clayton Utz is acting for Origin in Australia, advising on the takeover bid.

Simpson Grierson is acting for BG in New Zealand, where it owns 51.4% of Contact Energy, the Kiwi power company.

Allen & Overy is acting for BG in the UK.

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