The exclusivity period extension would have been requested by...

The exclusivity period extension would have been requested by the bidder. It may means something like:

- we're still looking at this and need a bit more time to arrange our bid structure and finance and don't want others muddying the waters at this point

and/or

- it's a slow time of year. The Origin execs down under are at their beach houses and aren't giving us the info we need. Days are short in Canada and the time zone difference is a killer.

My bet is that this is still in progress, because if lower gas prices were to sink the resolve, it would have already happened. I.e. no need to request an extension.

The commitment to invest billions into renewables is the sweetener to the Australian Government that allows the Government to frame the deal as good for the environment and in line with the Government wanting to be seen as taking steps towards renewables whilst not spooking the market even more than they already have. I don't think the FIRB will object to this deal. The ACCC may have a concern but I expect they will be told to tow the line pretty quickly.