BRU 6.25% 8.5¢ buru energy limited

Ann: Share Purchase Plan Offer Closing Friday 8 December 2023, page-14

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    Origin Energy's (ORG) investors have rejected a $10.6 billion Brookfield-led consortium's bid for Australia's largest power retailer at a shareholder meeting on Monday.
    The proxy votes were 31.07% against the bid with 66.97% in favour, a slide shown to investors at meeting in Sydney showed, failing to reach the 75% threshold required for a takeover to proceed.
    A final result will be known later on Monday. The deal was expected to fail after Origin's largest shareholder A$300 billion ($198 billion) pension fund AustralianSuper said it would reject the A$9.39 per share offer.
    AustralianSuper owns about 17% of Origin, which was enough to block the bid that required at least 75% support from the votes cast.
    Origin's board on Thursday rejected an alternative proposal lodged last week from the consortium to be considered if the current offer failed.
    Last edited by CEOChair: 04/12/23
 
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