(Updates with detail on stake increase, context)
Nov 14 (Reuters) - Pension fund AustralianSuper has increased its stake in Origin Energy (ORG) 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. (([email protected]; Twitter: https://twitter.com/sameer_manekar))
News: ORG UPDATE 1-Pension fund AustralianSuper raises stake in Origin Energy to 16.50%
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$12.42 |
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Mkt cap ! $21.39B | |||
| Open | High | Low | Value | Volume |
| $12.39 | $12.42 | $12.34 | $27.91M | 2.251M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 286 | $12.37 |
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| Price($) | Vol. | No. |
|---|---|---|
| $12.42 | 96018 | 1 |
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