Brookfield evaluating potential next steps after Origin Energy shareholders reject buyout plan

Brookfield Asset Management BAM, +0.25% BAM, -0.22% and Brookfield Renewable Partners BEP, +0.46% BEP.UT, +0.11% said they will evaluate their next steps, if any, after Origin Energy Ltd. ORG, +0.59% shareholders rejected a $10.6 billion takeover proposal with private-equity firm EIG. Origin shareholders approved the deal by 69%, but the vote was short of the required 75% approval level. “We are seeing plentiful opportunities to deploy capital at or above our target returns,” Brookfield Renewable Chief Executive Connor Teskey said. The firm said it remains on track to deploy up to $8 billion of equity capital over the next five years, which is consistent with its target. “Our plan to accelerate the transition of Origin has generated significant interest from similar businesses around the world, who are seeking a capital and operating partner to enhance the value of their businesses by accelerating their transition,” Brookfield said.