Origin Energy (ORG), APA Group (APA) and Japan-based Marubeni Corp, have reportedly bid for former Babcock & Brown satellite, Alinta Energy Corp (AEJ).

AEJ is a power generation business, which happens to operate the largest private gas electricity retailer in WA.

AEJ has come under significant financial pressure recently, and is close to breaching a number of its loan covenants.

Its troubles have seen its market capitalisation plunge to just over $50 million, making it one the smaller stocks in the Australian share market.

Of most interest to ORG would be AEJ’s power stations and, given the group’s healthy balance sheet, it would be well placed to make an offer.

The takeover rumours meant AEJ was one of the hot stocks yesterday, with its share price surging over 40%.


   Written by: admin   Other posts from: admin
7 day free trial
 



asx-share-price

To start your Free 7 day trial please complete your details below

* required fields

IMPORTANT: an activation code will be sent via SMS, please enter your preferred mobile number



Disclaimer: The content of this blog does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs. Before acquiring or using any of Australian Stock Report's products, you should obtain and consider our Financial Services Guide. Australian Stock Report Ltd (ACN 106 863 978) is licensed as an Australian Financial Services Licensee pursuant to section 913B of the Corporations Act 2001. AFS Licence 301682. Any content within this email remains the property of Australian Stock Report and should not be reproduced without the consent of Australian Stock Report
RSS Feed