The privatization of Origin Energy Limited (ASX:ORG) and EnergyAustralia Pty Ltd by the New South Wales government is to be delayed further as offers for the power plants underlying Origin Energy's and EnergyAustralia's gentrader contracts now due in June. Origin Energy, being advised by Lazard Ltd. (NYSE:LAZ) and EnergyAustralia, being advised by Morgan Stanley (NYSE:MS), are still fully engaged in the negotiating process. But the lack of alternative bidders - and competitive tension - could prove problematic if Origin and EA's bids fail to meet the state's expectations.

Lazard Ltd. announced that Larry Slaughter will join the firm as a Managing Director and Vice Chairman, Investment Banking, effective June 3, 2013. Mr. Slaughter was most recently at JP Morgan, based in New York, where he was co-head of North American Investment Banking, having previously served as head of European Investment Banking Corporates in London.

Lazard Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company's net revenue was $401,903,000 compared to $486,039,000 a year ago. Operating income was $21,597,000 compared to $37,823,000 a year ago. Net income was $17,649,000 compared to $29,056,000 a year ago. Net income attributable to the company was $15,360,000 or $0.12 per diluted share compared to $25,552,000 or $0.20 per diluted share a year ago. Operating revenue, as adjusted was $413,704,000 compared to $498,749,000 a year ago. Earnings from operations, as adjusted was $65,901,000 compared to $80,798,000 a year ago. Net income, as adjusted was $37,163,000 or $0.28 per diluted share compared to $44,812,000 or $0.33 per diluted share a year ago. The company announced that on April 25, 2013, the company's Board of Directors voted to increase the quarterly dividend on the company's outstanding Class A common stock by 25%, to $0.25 per share. The dividend is payable on May 24, 2013, to stockholders of record on May 6, 2013.