Brookfield’s $12.8 Billion Origin Bid Rejected by Investors (3)

Origin Energy Ltd. rejected a A$19.1 billion ($12.8 billion) Brookfield Asset Management Ltd.-led takeover, after the fund’s yearlong pursuit of a utility that’s vital to Australia’s energy transition.

About 69% of ballots cast by investors were in support of the deal, below the required threshold of three-quarters of the votes, Origin said Monday in a statement, following a shareholder meeting.

The utility will “focus on delivering on our strategic priorities, accelerating investment in cleaner energy and storage and pursuing our ambition to lead the energy transition,” Origin Chairman Scott Perkins said in the statement.

Origin Energy Chairman Scott Perkins, right, and CEO Frank Calabria after the annual general meeting in Sydney.

Photographer: Brendon Thorne/Bloomberg

Origin’s largest investor AustralianSuper ...