Brookfield's Failed Pursuit of Origin Energy: Will They Make a Comeback?

Already a subscriber?Brookfield’s failed pursuit of Origin Energy is yesterday’s news, but sharp-eyed market watchers haven’t given up hope the Canadian giant will be back for round two.

Street Talk had last Thursday, April 4, flagged in the calendar as marking four months since the scheme was voted down. Because Brookfield’s offer was ‘best and final’, four months is the minimum waiting period before it can bid again.Origin-Brookfield was the $20 billion mega-deal that got away in 2023 after the major electricity and gas supplier’s biggest investor, AustralianSuper, declined to give the takeover its blessing.

Street Talk isn’t suggesting a bid is incoming or even that Brookfield is back on the tools. Brookfield declined to comment on whether there are movements behind the scenes when contacted by Street Talk. Its deal makers are still licking their wounds after a grinding year-long fight for the energy giant that featured a bitterly fought proxy battle and politicians joining the fray. But the fact the standstill is up has engines revving.

. Its largest energy acquisition to date is AusNet Services, shelling out $17.8 billion in 2021 to take out the electricity network operator with a consortium.Working in bankers’ favour is Brookfields’s second global transition fund. BGTF II, which ruled off its first closing at $US10 billion in February. Brookfield was hoping to anchor the first global transition fund with Origin, orBrookfield had, led by local chairman Tony Osmond.

One thing’s for sure, however. If Brookfield does return to take Origin Energy private, it will have to up the price.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

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