The takeover is facing growing resistance from investors, with a vote set to be held on Nov. 23
An independent expert’s report into a Brookfield-led consortium’s A$15.35-billion bid for Australia’s Origin Energy has deemed the offer fair value, but the takeover is facing growing resistance from investors.
The range covers the offer price of about A$8.81 apiece from the consortium’s March bid, which consists of Australia dollars, U.S. dollars and dividend components. “I imagine there’s still a pretty strong desire from the vocal holders to see more,” said Max Vickerson, an analyst at stockbroker Morgans.The deal requires shareholder approval by 75 per cent of votes cast at a scheme meeting. Australian Super, the largest investor, raised its stake to 14 per cent last month and called the shares undervalued.
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