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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.
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