News: ORG Origin Energy Says It Receives Non-Binding Indicative Offer At A$9.00 Share

Nov 10 (Reuters) - Origin Energy Ltd (ORG) :

• RECEIVES NON-BINDING INDICATIVE OFFER AT A$9.00 SHARE
• RECEIVED AN INDICATIVE, CONDITIONAL AND NON- BINDING PROPOSAL FROM BROOKFIELD ASSET MANAGEMENT INC.
• THIS INDICATIVE PROPOSAL VALUES ORIGIN AT A$18.4 BILLION ON AN ENTERPRISE VALUE BASIS
• UNDERTOOK A PERIOD OF LIMITED DISCUSSIONS AND INFORMATION SHARING WITH CONSORTIUM
• INDICATIVE PROPOSAL FOLLOWS AN EARLIER INDICATIVE PROPOSAL FROM CONSORTIUM TO ACQUIRE ORIGIN FOR A$7.95 CASH PER SHARE ON 8 AUG
• HAS ENTERED INTO A CONFIDENTIALITY AND EXCLUSIVITY AGREEMENT WITH CONSORTIUM
• INDICATIVE PROPOSAL PROPOSES ULTIMATELY BROOKFIELD ACQUIRE MARKETS BUSINESS AND MIDOCEAN WOULD ACQUIRE INTEGRATED GAS BUSINESS
• NOTES NO CERTAINTY AT THIS STAGE INDICATIVE PROPOSAL AND ENGAGEMENT BETWEEN ORIGIN AND CONSORTIUM WILL PROGRESS TO BINDING PROPOSAL
• INTENDS TO GRANT CONSORTIUM OPPORTUNITY TO CONDUCT DUE DILIGENCE TO ENABLE IT TO PUT FORWARD A BINDING PROPOSAL
• SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION
• IF CONSORTIUM MAKES BINDING OFFER AT A$9.00 CASH PER SHARE, BOARD INTENDS TO UNANIMOUSLY RECOMMEND