Pension fund AustralianSuper said on Tuesday it plans to vote against a Brookfield-led consortium’s A$15.35 billion ($9.78 billion) takeover offer for Origin Energy Ltd, casting doubt on the future of the bid.
Origin Energy’s largest shareholder, the A$300 billion AustralianSuper, owns a 13.68% stake and said the offer was “substantially below” its estimate of long-term value for Australia’s biggest energy retailer.
