Stock Market News
AustralianSuper rejects Brookfield offer to take part in Origin takeover
2023.11.12 23:30
© Reuters. FILE PHOTO: The logo of Australian energy company Origin is pictured in Melbourne, Australia, July 3, 2016. Picture taken July 3, 2016. REUTERS/Jason Reed/File Photo
SYDNEY (Reuters) – Australian pension fund AustralianSuper said on Monday it had rejected “an eleventh hour and unsolicited” offer received from a Brookfield-led consortium to take part in the takeover of Origin Energy, and said it will be voting against the deal.
Brookfield and EIG Partners earlier this month offered a “best and final” A$9.53 per share for Origin after raising a previous bid.
Australia’s largest pension fund AustralianSuper opposes the offer and has already said it intends to use its stake last reported at 15% to vote against the deal at a Nov. 23 shareholder meeting.
