Consortium revises offer amid opposition from largest shareholder

  • Origin Energy postpones vote on takeover led by Brookfield Asset Management
  • Revised offer retains share price but adds opportunity for institutional shareholders
  • AustralianSuper intended to vote against takeover with its 17% stake
  • Consortium makes last-ditch change to avoid failing to win necessary shareholder votes

Origin Energy has postponed the vote on a near $11 billion takeover led by Brookfield Asset Management. The consortium revised its offer after facing opposition from AustralianSuper, the company’s largest shareholder. The revised offer retains the share price but adds an opportunity for institutional shareholders to invest in a Brookfield-owned energy markets business. AustralianSuper, with its 17% stake, intended to vote against the takeover. The consortium made a last-ditch change to avoid failing to win the necessary shareholder votes. The scheme was unlikely to have passed based on proxy votes.

Factuality Level: 7
Factuality Justification: The article provides information about the postponement of the vote on a takeover led by Brookfield Asset Management due to opposition from AustralianSuper, the largest shareholder of Origin Energy. It also mentions the revised offer made by the consortium and the potential opportunity for institutional shareholders to invest in a Brookfield-owned energy markets business. The article includes details about the backup offer and the concerns raised by AustralianSuper. However, it lacks some context and background information about the companies involved and the reasons for the opposition to the takeover.
Noise Level: 4
Noise Justification: The article provides a straightforward report on the postponement of the vote on the takeover led by Brookfield Asset Management. It includes relevant information about the revised offer and the opposition from AustralianSuper. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article stays on topic and supports its claims with specific details and quotes.
Financial Relevance: Yes
Financial Markets Impacted: Origin Energy, Brookfield Asset Management, AustralianSuper
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses a postponed vote on a takeover led by Brookfield Asset Management for Origin Energy. The revised offer and opposition from AustralianSuper are impacting the financial markets and companies involved. However, there is no mention of an extreme event in the article.
Public Companies: Origin Energy (N/A), Brookfield Asset Management (N/A), AustralianSuper (N/A), EIG Global Energy Partners (N/A)
Key People:

Reported publicly: www.marketwatch.com