Brookfield loses another giant Australian energy deal
Shareholders in Origin Energy, one of Australia's largest power producers, have rejected a A$15 billion takeover offer from Canadian investment giant Brookfield.
Why it matters: This is the second major energy deal loss in Australia for Brookfield, which just announced participation in a $30 billion climate fund launched by United Arab Emirates.
- In 2022, Brookfield was rebuffed in its efforts to buy AGL Energy.
Details: Around 69% of Origin shares were voted in favor of the takeover, which required 75% approval.
- Among the holdouts was Origin's largest shareholder, pension system AustralianSuper.
Go deeper, via the WSJ: "At the heart of the battle for control of Origin is a difference of opinion in the value that can be generated from Australia's fourth-largest emitter of greenhouse gases shifting away from coal."