AustralianSuper Deepens Origin Energy Stake at AU$8.65 Per Share

AustralianSuper, a major superannuation fund and currently the largest shareholder in Origin Energy (ASX: ORG), made significant moves in the recent stock market surge. Acquiring shares at AU$8.65 each, AustralianSuper boosted its holding in Origin to 16.5%—a strategic step that signals their growing interest and investment in the energy and gas corporation. Notably, Origin Energy closed Monday’s trading at a slightly higher AU$8.78, indicating a poised market approach by the super fund.

Aggressive Share Buy

Reports confirm AustralianSuper's swift market entry as they sought shares up to AU$8.95, indicating a calculated aggressive stance in their buying spree. The acquisition took place through Macquarie Capital’s equities desk in a rapid-fire move on Monday evening.

Resisting Takeover Offers

The move arrives in the wake of AustralianSuper rejecting a last-minute and unsolicited bid proposed by the Brookfield and EIG consortium. This group had put forward a takeover bid of AU$9.53 per share, emphasizing their keen interest in acquiring Origin Energy.

Swift Market Operations

The book for offers opened and closed swiftly, reflecting the fervor of the trade. Registrations were called for and the book quickly filled, demonstrating an overwhelming market response. The impact of these activities was immediately apparent as Origin Energy's trade value dropped by 1.5% on Tuesday, opening at AU$8.65.

This move, which reflects a continued interest in the energy sector by AustralianSuper, suggests a strategic, cautious approach towards stock acquisitions, signaling a calculated interest in one of Australia's prominent energy corporations. The rejection of a takeover bid and the aggressive acquisition of shares at a lower value indicate the investment giant’s calculated maneuvers in securing its stake in Origin Energy, hinting at potential future market developments.

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