ASX 200 LIVE: ASX to rise; AustralianSuper rejects Origin bid

AustralianSuper has rejected Brookfield and EIG’s bid for Origin Energy, disputing the independent expert’s assessment. The superannuation fund said it intended to vote its shares in Origin against the takeover scheme from the Brookfield and EIG-backed consortium on the terms proposed in Origin’s scheme booklet from October 19.

“The fund a different view of key assumptions and other inputs, and therefore the valuation, contained in the Independent Expert’s Report in Origin’s Scheme Booklet.” AustralianSuper engaged Frontier Economics to review the assumptions used in the IER. “Frontier Economics are also of the opinion that the assumptions used in the IER to derive a business valuation are unrealistically low.”

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