General Discussion, page-201

You think so? What is their average buy-in price?

04 December 2023 • By Jon Bragg
The $20 billion proposed takeover by Brookfield and EIG, which was strongly opposed by Australia’s largest superannuation fund, has been defeated. Brookfield and EIG’s $20 billion takeover bid for Origin Energy has been defeated after failing to receive the necessary support from shareholders for the deal to proceed.

At a scheme meeting held in Sydney on Monday, 68.92 per cent of votes cast by Origin shareholders were in favour of the takeover, below the required threshold of 75 per cent. Monday’s vote represents a victory for AustralianSuper, Origin’s single largest shareholder with a stake of more than 17 per cent and the biggest opponent of the takeover.

AustralianSuper has repeatedly argued that Brookfield and EIG’s offer is “substantially below” the $300 billion superannuation fund’s estimate of Origin’s long-term value. In a statement on Monday, an AustralianSuper spokesperson welcomed the decision by Origin shareholders to vote against the takeover scheme.

SYR is chicken feed compared to Origin Energy