(Bloomberg) -- Origin Energy Ltd. investors narrowly voted to reject a A$19.1 billion ($12.8 billion) Brookfield Asset Management Ltd..-led takeover.
Less than the required three-quarters of ballots were cast to approve the deal, Origin chairman Scott Perkins told a Sydney meeting Monday, meaning the utility will remain publicly listed. About 67% of proxy votes were cast in favor of the proposal.
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Origin's largest investor AustralianSuper had opposed the offer as too low and added to its position in recent months to secure about 17% of the company, effectively blocking the acquisition.
(Updates with details of vote result in first paragraph.)
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