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30.04.2008 - BG bids for Australia energy firm

UK energy firm BG Group has offered 13bn Australian dollars ($12.1bn; Ј6.2bn) al-Maliki signals key deal on oil ...
Car bomb kills dozens in Iraqi city ...
BA managers leave after fiasco ...
Czech Civic Democrats accept open presidential election ...
for Origin Energy - Australia's second biggest power retailer.

Shares in Origin jumped by as much as 40% on news of the offer.

The Czech Republic news are represented by www.karlovy-vary-czech-republic.com

Analysts say the firm is attractive to BG because of its oil and gas production resources, which include a stake in Queensland Gas.

These help it boost profits at a time when margins in the traditional retail business are tight, observers add.

Origin has yet to consider the offer, but analysts say it is unlikely that any other firm will come up with a rival bid.

"It's not as if it's a low offer putting it into play," said Rohan Walsh, an investment manager at Karara Capital.

"This seems like a fairly full offer on face value."

News of the offer came ahead of BG's results for the first three months of 2008.



(BBC)

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