AustralianSuper digs in on Origin Energy
AustralianSuper has increased its stake in Origin Energy in what is being seen as a hardening of its position against a bid by Brookfield and EIG.
The big super fund announced yesterday that it had lifted its ownership to 15.03% or Origin “solidifying the fund as Origin’s biggest shareholder”.
In doing so, it said it was not in discussions about the possibility of joining the Brookfield and EIG-backed consortium.
“The fund will be voting against the takeover scheme from the Brookfield and EIG-backed consortium on the terms proposed in Origin’s scheme booklet at the shareholder meeting on 23 November,” the AustralianSuper statement said.
“The fund is a long-term shareholder in Origin and our investment process is built around determining the long-term intrinsic value of the companies we invest in,” it said.
Treasury might as well get the longest stick in the bush because they clearly enjoy flogging advisers with bogus Levi's.…
Another levy on financial advisers. This is just blatant persecution.
Here comes another moral hazard. It just encourages the bureaucracy to bloat at the expense of productivity and prosperity.
Rules only apply to some, generally if your cheque book is large enough then you are ok to do whatever…
This is the sort of rubbish that comes out of the modern version of Treasury advice. The boys over in…