22:09:35 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Ltd
Symbol BAM
Shares Issued 412,796,106
Close 2023-11-09 C$ 42.71
Market Cap C$ 17,630,521,687
Recent Sedar Documents

Globe/wire say Brookfield Asset gets support for Origin

2023-11-10 08:12 ET - In the News

The Globe and Mail reports in its Friday edition that proxy adviser CGI Glass Lewis on Thursday recommended Origin Energy shareholders vote in favour of a $10.5-billion (U.S.) bid from a consortium led by Brookfield Asset Management, despite opposition from the target's largest shareholder. A Reuters dispatch to The Globe says that Brookfield and EIG Partners last week offered a "best and final" $9.53 (Australian) a share for Origin after raising a previous bid. Australia's largest pension fund AustralianSuper opposes the offer and intends to use its 15-per-cent interest to vote against the deal at a Nov. 23 shareholder meeting. The opposition risks sinking a deal that requires 75 per cent of shareholder votes cast to pass given many retail investors tend not to vote. CGI Glass Lewis on Thursday backed the deal and said there was enough evidence to support an "attractive" transaction that would allow investors to cash out at a premium. The support, which follows the deal's backing by fellow proxy advisory firm Institutional Shareholder Services (ISS) on Tuesday, is a boost for Origin and the consortium as they campaign to win over investors large and small ahead of the meeting later this month.

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