Origin said based on the early votes received the original offer would not have won support.
Under the new terms, the A$9.43 per share bid remains but some investors can stay invested in the energy markets business that would be owned by Brookfield.
If that bid fails to achieve 75% shareholder support, an alternative proposal has been lodged that would see Origin sell the energy markets business to Brookfield for A$12.3 billion ($8 billion).
Origin shareholders would receive a total of A$9.08 per share, with an additional A$0.22 if EIG got up to 90.1% control of Origin.
Institutional investors who have already voted on the A$9.43 offer can choose to change or keep their vote, or opt to invest in the energy markets business.
Persons:
Dado Ruvic, EIG, Chris Bowen, Scott Murdoch, Lewis Jackson, Miral Fahmy, Lincoln, Sonali Paul
Organizations:
Brookfield, REUTERS, Companies Brookfield, Origin Energy, Brookfield ., EIG Partners, Australia Pacific LNG, Brookfield consortium's, Energy, Thomson
Locations:
SYDNEY, Brookfield, Sydney, Australian, Australia