Brookfield Renewable, an owner, operator and developer of renewable power, and EIG-backed MidOcean Energy, an LNG company, offered to acquire Origin Energy, an electricity and natural gas retailer, from AustralianSuper, an industry fund, for AUD15.35bn. “The Board is unanimous in its view that this transaction is in the best interests of shareholders. The transaction represents a significant premium to the share price prior to the original indicative proposal, and reflects the strategic nature of Origin’s platform, its growth prospects and anticipated earnings recovery. We believe the Consortium will be responsible owners of Origin’s businesses. Our discussions with the Consortium confirm a high degree of alignment with Origin’s strategy and a desire to accelerate initiatives consistent with Origin’s critical role in Australia’s energy transition. This alignment validates the vision and hard work of Origin’s management team and employees,” Scott Perkins, Origin Chairman. On December 21, 2022, Origin agreed to extend the exclusivity to 16 January 2023. On March 27, 2023, Origin Energy agreed to the takeover bid.