$11-Billion Takeover Bid for Australia’s Top Utility Collapses ...Middle East

Not enough shareholders of Australia’s top energy retailer, Origin Energy, backed on Monday a takeover bid from a Brookfield-led consortium of investors, leading to a collapse of a proposed $11-billion deal. A total of 68.92% of the votes cast by Origin Energy’s shareholders were in favor of the bid, short of the required 75% majority necessary to approve the proposal and move the deal forward, the Australian company said today. A consortium led by Brookfield and EIG has proposed to acquire Origin Energy Limited and its best and final…

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