ORIGIN Energy shares surged to a record high after it knocked back an improved $13.6 billion takeover offer from British giant BG Group, citing the increased value of its gas reserves.
Archive for May, 2008
ANZ says it is too early to say if unsecured creditors of failed stockbroker Opes Prime can or cannot expect compensation from the bank for liquidating their share portfolios.
STRUGGLING fund manager Allco Finance Group has won another month’s reprieve on a $250 million bridging facility but will face a hefty hike in the interest rate on its senior debt.
SHARES in forestry products supplier Gunns opened lower today, after the ANZ withdrew funding for its controversial $2 billion pulp mill project in Tasmania’s Tamar Valley.
ORIGIN Energy has knocked back a $13.6 billion takeover offer from BG Group of the UK because it does not reflect the value of is assets and future potential.
THE securities of Centro Properties Group and Centro Retail Group have been placed in trading halts pending an announcement.
ANZ is considering paying Opes Prime clients $350 million in compensation for liquidating their share portfolios, in an effort to put an end to the damage the bank has incurred from the fallout from the broker’s collapse.
WIZARD Home Loans founder and chairman Mark Bouris has finally come clean over his clandestine plan to regain control of the struggling mortage provider less than 24 hours after categorically denying on national television he had been “hatching a plan” to do so.
NATIONAL Australia Bank will cut its mortgage broker commissions and introduce a gradually increasing trail fee in the expectation brokers develop longer-term clients.
FORTESCUE Metals Group may have become one of Australia’s biggest companies but it failed to comply with 50 per cent of corporate governance standards deemed necessary by a new study.
