© Reuters. FILE PHOTO: Miniatures of windmill, photo voltaic panel and electrical pole are seen in entrance of Brookfield Renewable emblem on this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) – Origin Power’s largest shareholder AustralianSuper mentioned on Thursday it’s going to vote towards a contemporary revised $10.6 billion takeover bid from a Brookfield-led consortium, reiterating its view that the supply is “substantially below” its estimate of the ability producer’s long-term worth.
Beneath the brand new phrases, the A$9.43 per share bid stays however some buyers can keep invested within the power markets enterprise that might be owned by Brookfield.
AustralianSuper, which owns greater than 17% in Origin Power, mentioned the most recent “low-ball offer” reaffirmed its view that the bid remained considerably under its estimate of the power retailer’s long-term worth.
“AustralianSuper is resolute the value and future value of Origin is better in the hands of AustralianSuper members and other shareholders than a private equity consortium planning to shortchange them,” the pension fund mentioned.
A gathering in Sydney to vote on the unique bid on Thursday has been delayed till Dec. 4 to think about the brand new supply, Origin mentioned earlier.
