Australian power producer and retailer Origin Energy Ltd is set to announce a decision within days on UK gas producer BG Group Plc's $12 billion take-over bid, with media reporting BG has improved its offer.
The Australian newspaper's online edition, without citing any sources, said Origin was considering a revised offer of over $15 a share. BG's original proposal was pitched last month at A$14.70, a 40 percent premium to Origin's share price then. Origin declined to comment on the report. Earlier, it sought a trading halt in its shares ahead of an announcement on the bid on Friday.
Analysts said BG, one of the world's largest shippers of liquefied natural gas (LNG), may need to sweeten its offer by as much as 13 percent to A$16.60 a share to win Origin's vast coal seam gas resources in Australia.
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