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03.12 - 18:57
Pension fund AustralianSuper raises stake in Origin Energy to 16.50%
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(Reuters) — Pension fund AustralianSuper has increased its stake in Origin Energy to 16.50%, the Australian power producer said in an exchange filing on Tuesday.
The stake increase by AustralianSuper, Origin Energy's top shareholder, threatens to scupper a $10.5 billion buyout of Australia's largest energy retailer.
AustralianSuper is opposed to the takeover offer by the Brookfield-led consortium and its partner EIG, saying the offer is substantially below its estimate of Origin's long-term value.
On Monday, the pension fund rejected an «eleventh hour» offer from the consortium to drop its opposition to their bid and join the takeover.
Read more on investing.comAbout this in other media
Investors expected to vote against Brookfield's $10.6 billion bid for Australia's Origin Energy investing.com /11 months ago
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