ORG +5.5%: the ACCC showed their softer side today, approving the Brookfield deal to acquire Origin Energy despite some vertical integration concerns. Brookfield already manages gas & electricity distributor AusNet, which raised the ACCC eyebrows given the similarities in Origin’s services. The competition regulator, though, gave this a green light, noting the capital Brookfield plans to put into Origin to transition the company, and the country, away from fossil fuels. The issue is now shares are trading above the bid price despite FIRB not yet giving it the tick of approval. Key shareholders are looking to earn an improved bid price now given the improvements in the business and sector since the original takeover bid.
MM is neutral ORG
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