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BG Group “surprised” over collapse of £6.6bn takeover talks

May 30 2008 by Tony McDonough, icNorthWest

BG Group is expressing its surprise today after one of Australia’s biggest energy firms broke off discussions over a £6.6bn takeover.

The UK oil and gas explorer says up until yesterday it had been “actively engaged” with Origin Energy in putting the final touches to its offer agreement, based on a recently improved takeover price.

But Sydney-based Origin says today it has rejected the proposal, citing the increased value of its coal seam reserves following an independent review.

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