Origin Energy Consortium Raises Cash Offer

Origin Energy Limited  has announced that the Brookfield-led consortium, in collaboration with EIG, has increased its cash offer for all Origin shareholders in a Scheme of Arrangement by 69 cents per share, totaling approximately AU$1.2 billion. If implemented, the revised total cash payment per share will be approximately AU$9.53, surpassing the Independent Expert's valuation range of AU$8.45 to AU$9.48 per share as of June 30, 2023, and representing an 8% increase from the previously outlined total cash payment of approximately AU$8.81 per share.

The revised total cash payment includes an AUD scheme consideration, USD scheme consideration, and a special dividend. The Consortium considers this offer to be its best and final proposal, with an extended implementation date proposed for January 31, 2024. The Origin Board recommends shareholders vote in favor of the revised Scheme, subject to certain conditions.

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