A new proposal prepared by the Canadian investment giant would come ahead of a shareholder vote on Thursday that is expected to kybosh a $20-billion takeover.
Origin Energy shareholder VanEck Australia will support the $10.5 billion bid from Canada's Brookfield and EIG, according to a senior executive, one of only a handful of funds to reveal their hand ahead of the shareholder vote next Thursday. The Brookfield consortium's A$9.53 offer is a "good premium" given the uncertainty around Origin Energy's ability to profit from the shift to renewable energy, according to Jamie Hannah, deputy head of investments and capital markets at VanEck, which owns a 0.3% stake in Origin. Critics of the bid argue it undervalues Origin's 20% stake in British renewable energy utility Octopus Energy, but Hannah said the assets are tricky to price.