Origin's energy
Both Brookfield and Origin Energy have clearly moved on from the $20 billion takeover attempt that failed late last year, with the Australian gentailer's share price climbing by almost a third in the months since.
It’s now more than six months since Brookfield and EIG Partners failed to garner enough support from Origin Energy’s shareholders for their $20 billion takeover of the company. But few Origin shareholders would have marked the anniversary on their calendars as the ASX-listed gentailer’s shares continue to perform so strongly.
Today, Origin offered one of the clearest signals yet that it has moved on from the Brookfield saga. It announced a small but symbolic investment in energy efficiency consultancy Climatech Zero, which licenses emissions tracking software from Dublin-based climate tech darling Cool Planet to help industrial companies become more energy efficient.
“Climatech is not particularly large — it’s a pretty small business. But these investments help Origin, they are incrementally positive and provide the services and capabilities to help lift the commercial and industrial business,” Macquarie analyst Ian Myles said.
Since the Brookfield deal fell over at the 4 December extraordinary general meeting, Origin shares have risen by nearly 30% and are approaching their highest levels in over a decade at $11 — well above the Brookfield consortium’s $8.90 per share offer.
