REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Nov 23 (Reuters) - A Brookfield-led consortium's A$16.3 billion ($10.61 billion) bid for Origin Energy (ORG.AX) is expected to fail after the largest shareholder in Australia's biggest energy retailer said it would vote against the offer at an investor meeting on Thursday.
The energy company's shares closed on Wednesday at A$8.42, up 1.69%, but well below the offer price of A$9.43 per share.
If everyone thought it was going ahead the share price would be higher," he told Reuters.
Brookfield and Origin Energy declined to comment on Thursday's vote.
Origin shares remain 2.1% lower than last week's close and have traded well below the offer price since the new bid arrived, suggesting investors were pessimistic of its success.
Persons:
Dado Ruvic, EIG, Jamie Hannah, I'm, Macquarie, Ian Myles, Scott Murdoch, Lewis Jackson, Miral
Organizations:
Brookfield, REUTERS, Rights, Origin Energy, Newmont Corp, Newcrest Mining, Brookfield Corp, Energy, VanEck, Reuters, Thomson
Locations:
Brookfield, Sydney