(Adds more details, context after paragraph 2)
Nov 6 (Reuters) - Superannuation fund AustralianSuper has raised its stake in power producer Origin Energy (ORG) to 15.03%, an exchange filing on Monday showed.
The company's largest shareholder, which manages about A$300 billion in assets, had rejected a A$16.40 billion ($10.68 billion) bid from the Brookfield-EIG consortium, noting that A$9.53 per share offer remained "substantially below" its estimate of Origin's long-term value.
The Brookfield-led consortium is set to hold a shareholder meeting on Nov. 23, where it will urge investors to vote in favour of the deal rejected by AustralianSuper, which has a stake that could topple the bid requiring 75% approval depending on the turnout.
($1 = 1.5361 Australian dollars)
News: ORG UPDATE 1-AustralianSuper raises stake in Origin Energy to 15%
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Last
$11.94 |
Change
0.060(0.51%) |
Mkt cap ! $20.56B | |||
| Open | High | Low | Value | Volume |
| $11.83 | $11.94 | $11.75 | $16.28M | 1.366M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 681 | $11.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.95 | 3729 | 1 |
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| ORG (ASX) Chart |