<WIRE> Origin Energy (ASX:ORG) Soars to a 5-Year High Following Regulatory Approval of $9.84 Billion Acquisition

Origin Energy (ASX:ORG) shares witnessed a significant surge of up to 5.5%, reaching A$9.21, marking the stock’s highest point since August 2018.

Origin Energy became a takeover target for a group led by Canada’s Brookfield, and the A$15.35 billion ($9.84 billion) acquisition has just secured approval from Australia’s competition regulator.

Since March, when the consortium made their A$8.91 per share bid, the deal has undergone scrutiny from the Australian Competition and Consumer Commission.

With about 8.1 million shares trading hands, trading activity for Origin Energy is well above the 30-day average volume of 4.9 million.

It is worth noting that the company’s stock has appreciated by 13.1% YTD.

Origin Energy (ASX:ORG) is Australia’s second-largest power producer.

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