Origin shareholders vote down takeover
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The news: Origin shareholders have voted down a takeover bid from a Brookfield and EIG-led investor consortium.
The numbers: The vote was 69% in favour of the scheme, 31% opposed. The takeover plan required 75% of shareholder votes to pass.
The context: AustralianSuper owns roughly 17% of Origin and has been campaigning against the proposed takeover. The bidding consortium has proposed a backup bid, which was rejected by Origin's board last week. Origin's board had recommended today's scheme to shareholders.
