Origin Energy: Agrees to $18.7b takeover

Origin Energy Agrees to $18.7b takeover

• Origin Energy (ORG) agrees to an $18.7 billion takeover by a consortium comprising Brookfield Asset Management and MidOcean Energy
• The proposed takeover would see Origin split into two separate businesses: Integrated Gas and Energy Markets
• The proposed deal values Origin shares at $8.91, based on an AUD/USD exchange rate of 70 cents — revised from $7.95 per share in the consortium’s November offer
• The parties are targeting implementation of the deal by early 2024, subject to shareholder and regulatory approvals
• ORG shares are up 0.9 per cent and trading at $8.25 at 1:39 pm AEDT