Brookfield and EIG Revise Origin Energy Takeover Bid to $10.6 Billion
2023.11.26 09:15
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The consortium led by Brookfield Asset Management (TSX:) Ltd. has revised its takeover offer for Origin Energy Ltd., now proposing a US$10.6 billion bid excluding debt. This strategic move comes as a response to pushback from AustralianSuper, which had shown resistance to the initial acquisition proposal. The new plan also includes an alternative strategy to split Origin’s operations between Brookfield and EIG Global Energy Partners, should the deal encounter hurdles in gaining shareholder approval.
In other market news, the Toronto Stock Exchange (TSX) experienced slight gains earlier this week on Wednesday, with the composite index closing at 20,116.66 points. This uptick was partly attributed to a modest increase in Manulife Financial (NYSE:) Corp.’s stock, which rose by 0.5% to $26.22 per share.
Meanwhile, the specialty toy retailer Mastermind GP Inc. is navigating through a challenging period since workers initiated a strike on September 28, which has impacted operations and could influence the company’s performance in the crucial holiday season.
The TSX recently faced a minor setback, as it dropped 13.55 points during trading sessions, reflecting the ongoing volatility and challenges within the global financial markets.
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