AFR: It’s once bitten, twice shy for the M&A arbitrage funds at...

AFR: It’s once bitten, twice shy for the M&A arbitrage funds at Origin Energy, who are back stressing about whether Brookfield and EIG will stand up their $18.2 billion offer, like neurotic HC amateur pundits having a bad hair day …
Their nervousness had Origin shares close at $7.82 on Tuesday - their lowest level since the Australian energy giant confirmed its re-cut $8.90 a share indicative bid on February 22
The funds have been scouting around for proof of life. Bankers on both sides are telling them not to fret, but a falling share price and the wobbly financial market conditions is making it hard for M&A punters that don’t pay attention in class.
Street Talk’s seen a bunch of regulatory filings that suggest Brookfield and EIG are readying corporate structures and the like, which is only something a bidder does at this late stage when it’s still working hard on getting the deal done, so chill out and await the free cash.