(Updates with AustralianSuper comment, background on deal)
Nov 2 (Reuters) - Pension fund AustralianSuper on Thursday rejected the Brookfield consortium's best and final A$16.40 billion ($10.53 billion) takeover offer for Origin Energy (ORG) , saying the sweetened offer remained "substantially" below its estimate.
The consortium led by Canada's Brookfield BAM.TO , which also includes EIG's MidOcean Energy, is proposing Origin shareholders A$9.53 per share, up from the prior offer of A$8.81 apiece, and a 5.1% premium to the stock's last closing price.
"AustralianSuper intends to vote its shares in Origin Energy against the best and final offer from the Brookfield and EIG-backed consortium announced today," the pension fund, which holds the biggest stake in the power producer at 13.68%, said.
The consortium's sweetened offer of A$9.53 per share comes days after AustralianSuper rejected the prior offer of A$8.81 apiece.
Origin shares were trading 5.6% lower at A$8.56 as of 0103 GMT.
($1 = 1.5569 Australian dollars) (([email protected]; Twitter: https://twitter.com/sameer_manekar;))
News: ORG UPDATE 1-Origin Energy's top shareholder rejects Brookfield's 'best and final' $10.5 bln...
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Last
$11.84 |
Change
-0.180(1.50%) |
Mkt cap ! $20.39B | |||
| Open | High | Low | Value | Volume |
| $11.95 | $11.95 | $11.71 | $29.28M | 2.478M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 3534 | $11.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.85 | 13624 | 2 |
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| Last trade - 16.10pm 13/08/2025 (20 minute delay) ? |
| ORG (ASX) Chart |