Brookfield Asset Management and Brookfield Renewable Partners React to Origin Energy Takeover Rejection

Brookfield Asset Management (BAM) and Brookfield Renewable Partners (BEP) have announced that they will carefully consider their next course of action following the rejection of a $10.6 billion takeover proposal by Origin Energy Ltd. (ORG) shareholders. The offer, which included private-equity firm EIG, failed to receive the necessary approval level of 75% despite being supported by 69% of the shareholders.

Despite this setback, Brookfield Renewable Chief Executive, Connor Teskey, remains optimistic about future investment opportunities. "We continue to see numerous opportunities to invest our capital and achieve our target returns," Teskey stated. The company plans to deploy up to $8 billion of equity capital over the next five years, aligning with its long-term objectives.

One of the key aspects of Brookfield's strategy is to expedite the transition of Origin Energy. Their plan has garnered significant interest from similar businesses worldwide, who are actively seeking a partner to enhance their value by accelerating their own transition process. This interest highlights the reputation and credibility of Brookfield as a reliable capital and operating partner within the energy sector.

Brookfield Asset Management and Brookfield Renewable Partners maintain their commitment to pursuing new investment ventures while maximizing stakeholder value. Though they may have been disappointed by the outcome of the Origin Energy bid, both companies will continue to explore opportunities aligned with their growth strategy.