Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails

SYDNEY—An $11 billion bid for Origin Energy, one of Australia’s largest power companies, was rejected by its shareholders on Monday in a stark illustration of how investors are adopting different strategies to bet on the energy transition.

Origin said that shareholders owning about 69% of its stock voted for the takeover, meaning that the bid made by a consortium led by Brookfield Asset Management fell short of the 75% approval threshold needed to secure a deal.