Origin Energy's $10.6 bln bid from Brookfield set to collapse on Monday
Brookfield's consortium bid of $10.6 billion for Australia's Origin Energy is expected to fail on Monday as investors are anticipated to vote against the acquisition. Origin's shares dropped to a nine-month low ahead of the vote, indicating investor expectations of the bid being rejected. AustralianSuper, the largest shareholder of Origin, has already stated its intention to reject the offer. The bid requires at least 75% support from the votes cast, and with AustralianSuper owning about 17% of Origin, it should be enough to block the acquisition. If the bid fails, the market is not expected to be significantly impacted, but there could be potential upside if the consortium returns with a hostile off-market offer.
