A Brookfield-led consortium's A$16.3 billion ($10.61 billion) bid for Origin Energy is expected to fail after the largest shareholder in Australia's biggest energy retailer said it would vote against the offer at an investor meeting on Thursday. Australian Super, which has a 16.5% stake in Origin, said it believes the offer substantially undervalues the company's ability to profit from the shift to renewable energy, and has already said it would vote no. Without the support of the A$300 billion pension fund, Australia's largest, the consortium will struggle to receive the level of backing it needs to succeed under local takeover laws.
A Brookfield-led consortium s
A$16.3 billion bid for Origin Energy
is expected to fail after the largest shareholder in Australia s
biggest energy retailer said it would vote against the offer at
an.