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Trading in Origin Energy shares was paused on Thursday. Brookfield Corp (BN.TO), which has teamed up with EIG Partner's MidOcean Energy, and Origin Energy did not respond to requests for comment. Origin 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. Origin shares remain 2.1% lower than last week's close and have traded well below the offer price since the new bid.

Persons: Dado Ruvic, EIG, Jamie Hannah, I'm, Scott Murdoch, Lewis Jackson, Miral Fahmy Organizations: Brookfield, REUTERS, Rights, Origin Energy, Brookfield Corp, Energy, Investors, Newmont Corp, Newcrest Mining, VanEck, Reuters, Origin, Thomson Locations: Brookfield, Lincoln

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

"AustralianSuper believes Origin has a highly strategic portfolio of assets to participate in, and benefit from, the energy transition," a spokesperson said. Origin shares plunged as much as 5.6% to A$8.565 in high-volume trading following the news, as AustralianSuper's 13.68% holding could scupper a deal that requires approval from 75% of the register if not all investors vote. Should the deal fail at the shareholder vote scheduled for Nov. 23, a revised agreement allows the consortium to make a subsequent off-market bid if it buys 5% or more of Origin shares. "If it gets voted down, Brookfield aren't obligated to come back with an off-market takeover offer, but they may be inclined to," he said. Should the deal close, Brookfield and its partners GIC and Temasek will own Origin's Energy Markets business, which includes power generation and retailing.

Persons: Dado Ruvic, AustralianSuper, Canada's Brookfield, Brookfield, Jamie Hannah, Simon Mawhinney, Allan Gray, Stewart Upson, Scott Murdoch, Lewis Jackson, Sameer Manekar, Jamie Freed Organizations: Brookfield, REUTERS, SYDNEY, bourse, Brookfield Asia, Energy Markets, Saudi Arabia's Aramco, Australia Pacific LNG, Thomson Locations: VanEck, Brookfield, Temasek, Saudi, Australia, Sydney, Bengaluru

SYDNEY, Nov 28 (Reuters) - When Melbourne barista Melinda Elliott had to cut back on casual work shifts this year, she asked her buy-now, pay-later (BNPL) provider, Afterpay, to lower her credit limit. "There was no email to say, 'your credit limit's gone up again'; it was out of nowhere," said Elliott by phone. The absence of interest charges has exempted them from consumer credit regulation, and the sector's business has grown strongly during an online shopping frenzy spurred by COVID-19 stimulus payments and ultra-low interest rates. If they come under regular consumer credit regulation, they will also lose their main competitive advantages. The Australian Securities and Investments Commission, which oversees the Credit Act, told Reuters it was "supportive of the BNPL sector being subject to regulation".

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