Origin Energy (ASX:ORG) has received a revised proposal from a Consortium comprised of Brookfield Asset Management Inc., together with its affiliates and their managed funds, and MidOcean Energy, an LNG company formed and managed by EIG.

The proposal is to acquire all the issued shares in Origin by way of a scheme of arrangement at a price of $8.90 cash per share.

The Revised Proposal is also conditional upon certain matters, including entry into a Scheme Implementation Deed, completion of black box due diligence, Origin entering into no material acquisitions or divestments, a unanimous Origin Board recommendation, and hedging of oil and JKM commodity exposure.

Origin says it will continue to assess the execution considerations and risks associated with the Revised Proposal and keep shareholders updated in accordance with its continuous disclosure obligations.