Chanticleer

Origin vote will go ahead, but plan C ain’t dead yet

The Origin Energy board has knocked back the plan B proposal from Brookfield and EIG, clearing the way for Monday’s vote. But more twists can’t be ruled out.

Updated Nov 30, 2023 – 5.09pm, first published at 3.17pm

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And so we’re back where we were at the start of last week in the $20 billion battle for Origin Energy, after the Origin board finally rejected the alternative takeover proposal lobbed by Brookfield and EIG at the 11th hour.

Origin, Brookfield and EIG are scrambling to find enough votes to get their scheme of arrangement approved at Monday’s delayed meeting, while the market is busy trying to figure out if the bidders have a plan C up their collective sleeves.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.