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  1. #81
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    Even with your adjustments djones (thank you, very useful) it doesn't paint a picture of "overwhelming shareholder sentiment" to get rid of these guys. More a 50/50 split in opinion.

  2. #82
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    The Origin Vote is only the direct shareholding - not necessarily the full extent of the Origin / Proxy vote which was requested at the meeting, promised to the shareholders association, but has not been provided.

  3. #83
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    If the chairman had acceded to the request for a show of hands on the resolutions, I reckon you would have got "overwhelming shareholder sentiment" in favour of dumping them - probably about 99% of those present.

  4. #84
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    If this sort of thing is so bad, why are there not laws in place to stop this happening?

  5. #85
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    Contact secures additional Maui gas
    Contact Energy has secured rights to a further 170 petajoules of natural gas from the
    Maui gas field,.....

    http://www.contactenergy.co.nz/web/p...l_maui_gas.pdf

    "Mr Baldwin said Contact had, in conjunction with the purchase, arranged to sell around seven petajoules per annum from October 2007 until mid 2010 to a large wholesale gas customer. Contact has also agreed to a short-term sale to another wholesale customer."

  6. #86
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    quote:Originally posted by rmbbrave

    Come on guys use your brains and not your timelines.

    Origin wants all of CEN.

    Why?

    See the above article.

    They have tried for all of it at $8.00 but that wasn't enough.

    Do you honestly think they won't try again?
    Told You.
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  7. #87
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    AGL tipped for second tilt at Contact
    By GARRY SHEERAN - Sunday Star Times | Sunday, 24 December 2006

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    Australian energy giant AGL may make its second bid for Contact Energy next year as takeover and merger activity hots up around the booming trans-Tasman energy sector.


    On news of latest rumours, Contact shares hit $8.28 last week before retreating to $8.18 when the market closed for the Christmas break.

    Bab****& Brown, an investment bank with substantial infrastructure interests, is widely tipped to be leading a consortium which is running the ruler over Origin Energy.

    The consortium includes AGL and an infrastructure entity of the Commonwealth Bank of Australia.

    Origin Energy comprises many different energy businesses - power generation, retailing, exploration and production. It is also 51.4 per cent owner of Contact Energy.

    The most likely outcome of any successful bid would be for Origin assets to split up and sold off to different owners.

    AGL is considered a likely buyer for Contact Energy.

    AGL lost out to Origin Energy when US energy giant Edison Mission quit its cornerstone shareholding in Contact Energy in mid-2004.

    Analysts said Origin's controversial takeover offer for all Contact Energy shares earlier this year was in part inspired by Origin's need to access Contact's cash flows and debt-free balance sheet as it sought to make new acquisitions in Australia.

    Such acquisitions would give it the extra size and financial clout it needed to fend off potential aggressive acquirers like AGL.

    Only last week Origin beat AGL in the race for Sun Retail, the main prize in the Queensland State government's sell-off of electricity retailing assets.

    A jump of nearly $A1 in Origin's share price in the past fortnight sparked a "please explain" notice from the Australian Stock Exchange on Tuesday.

    Origin said it was not aware of information that might explain the rise.

    But Origin chairman Bruce King told Australian media the market was now better appreciating the long term Origin strategy of reaggregation, including purchases like Sun Retail.

    That, in turn, apparently flushed into the open informed market speculation of the Bab****& Brown-led look at Origin Energy.

    Bab****& Brown is a leading infrastructure player in Australia which brought New Plymouth-based Powerco, also in 2004.

    Also in 2004, AGL sold NGC to Vector to quit New Zealand - for the time being at least.

    Macquarie Equities investment director Arthur Lim said AGL was a logical buyer for Contact Energy if the Origin empire was bought and broken up.

    It would probably require AGL to make a bid for all Contact shares, which would mean Contact shareholders would be faced with considering the fourth attempt by an overseas energy company to buy their shares.

    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  8. #88
    Senior Member warthog's Avatar
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    Bab****& Brown - an excellent example of how censorship draws attention to that which is being censored.
    warthog ... muddy and smelly

  9. #89
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    Am i the only punter thinking whats up...plant closure...low lake levels.....gee if I was Origin i might be thinking this could be the time to.......

  10. #90
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    Perhaps yesterday the "bottom" may have been reached ????...good volumn.

    I find it interesting thinking....what % of buyers/sellers (of say CEN and obviously a few others) were doing so-- because of what the chart(s) were "telling them".....
    -- needed the dosh or had some to spend...
    -- their brokers told them
    -- thought the fundamentals indicated "im in" or "im out"

    ...at the end of the day thats "the market " I suppose

    CEN...hold some and bought some yesterday.

  11. #91
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    Quote Originally Posted by troyvdh View Post
    ...at the end of the day thats "the market " I suppose
    ... and as Benjamin Graham said "In the short term the market is a voting machine in the long term it is a weighing machine".

  12. #92
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    Gee...down on good volume....like i mean really good volume....to
    me its crazy.....am I missing something......Origin perhaps.....I bought some under $7......what to do.............

  13. #93
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    Could be contact is down for the same reason that nz windfarms are about to go up.
    The govt commitment to renewable energy.

  14. #94
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    The CEN half yearly report shows that the company supports the 90% renewable energy by 2025 target set by the government. The company already has some well established major renewable energy assets such as the Clyde Dam, and Lake Hawea which it has consents to squeeze more energy out of. Combined with geothermal and wind, this side of the company is looking good. The development of fast peaking gas generation at Stratford should also be a highly profitable area in the near future.

  15. #95
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    When are Origin going to have another crack at a takeover? The S.P. isn't going to go much lower is it?

  16. #96
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    Quote Originally Posted by BDLBOM View Post
    When are Origin going to have another crack at a takeover? The S.P. isn't going to go much lower is it?

    Yes, would have to believe that ORG will have another go at some time.
    As for the SP, at $7-98 its still more than 15% higher than the 12 month low of $6-91 and at a PE of almost 20, not exactly cheap.

    Disc: Holding CEN (firmly).


  17. #97
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    I can't see why the sp wouldn't go down further. I've been a holder from the beginning and it has always seemed to me that if you were a trader you could probably have done okay with this one, it seems to go up and down (with large variations in price) on a regular cycle. I actually sold out last week for the first time at $8.60 (and got the div) and will be looking at getting back in once it drops a bit lower.
    Certainly a share I want to be holding, but in the present climate thought I'd cash up and get back in at a lower price soon.

  18. #98
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    What has happened. Big jump in price in last 20 min but no announcement?
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

  19. #99
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    Quote Originally Posted by american psycho View Post
    bg & origin
    BG?

    Looks like it was only about $1.5m worth anyway and the price is now settling down.

    Smart money in or smart money out??
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

  20. #100
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    Origin Energy, 51 per cent owner of New Zealand's Contact Energy, has been approached by BG Group of the UK about a proposal to take over the company.


    BG Group is proposing $A14.70 ($NZ17.88) cash per Origin share, valuing the target at about $A12.91 billion.

    Origin shares ended yesterday at $A10.47, valuing it at $A9.20 billion.

    "Origin has not yet considered the proposal," it said.

    "Discussions between the parties will take place and shareholders will be advised of the outcome.

    "These discussions may or may not lead to an agreed transaction."

    Origin today advised its shareholders to take no action pending further advice from the company.

    BG Group's proposal is subject to shareholder and regulatory approvals.

    BG Group operaties in 27 countries and is a leading player in the global energy market.

    Contact shares jumped 9 per cent, or 77 cents, to $10.15, on the prospect it might also receive a takeover offer.
    http://www.stuff.co.nz/4503588a13.html
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