Why it’s important: Rejection of Plan B cuts off an alternative course of action for Brookfield and EIG
Context: Brookfield had promised to accelerate Origin’s shift to green energy
What’s next: Brookfield and EIG will now have to decide whether to mount a hostile bid or walk away
Brookfield and EIG face almost certain defeat at Monday’s Origin Energy shareholder meeting to decide the fate of their $20 billion scheme offer – with the unappealing choice of mounting a hostile takeover bid or walking away after their 13-month pursuit.
Origin’s board also faces difficult choices if it continues as a standalone ASX company, with some investors urging it to increase dividends and others advocating that it use its cash flows to accelerate its shift to clean energy, as Brookfield had promised to do.
