Australian energy retailer Origin Energy has raised its earnings forecast for the 2022-2023 financial year while it awaits a binding takeover bid from two global investment giants. On Jan. 27, Origin Energy updated its earning forecast by lifting the earnings before interest, tax, depreciation and amortisation (EBITDA) for the current financial year from $500-$650 million…
Intel, Brookfield to Invest up to $30 Billion in Arizona Chip Factories
Intel Corp. and Canada’s Brookfield Asset Management on Tuesday agreed to jointly fund up to $30 billion for the U.S. chipmaker’s leading-edge chip factories in Arizona, fueling Intel’s ambition to bring more chip production onshore without weighing on its balance sheet. Brookfield’s infrastructure affiliate will invest up to $15 billion for a 49 percent stake…
Energy Giant Rejects Takeover Bid From Tech Billionaire Hoping to Shutdown Coal Plants Faster
A tech investor’s multi-billion dollar takeover bid of one of Australia’s largest coal-fire energy companies has been flatly rejected by the board. Australian energy firm AGL confirmed that it had received a preliminary and non-binding offer to acquire all the shares in AGL at $7.5 (US$5.38) per share from investment firm Brookfield and tech billionaire Mike Cannon-Brookes—…
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