The S&P/ASX 200 Index fell 0.5 per cent to 7180.8 points. Origin shares tumbled 7.8 per cent to $7.19. Tyro plunged almost 20 per cent to $1.20.
toppled the valuation of Origin Energy on Monday, as investors doubted whether Origin's takeover offer from Brookfield and MidOcean would survive in the new regulated price environment.where its energy markets and integrated gas businesses would be carved up in a deal that valued the business at $18.4 billion including debt.RBC Capital Markets speculated that the gas bill, which gives Canberra price-setting controls, could spoil the offer under its current form.
“Westpac has now undertaken due diligence on Tyro and has decided that submitting an offer is not in the best interests of Westpac shareholders at this time,” Westpac’s statement said. Westpac fell 0.3 per cent to $23.36. Endeavour Group fell 1.3 per cent to $6.89 after the ACCC raised competition concerns with Endeavour Group’s proposed acquisition of the Beachfront Hotel in Rapid Creek, just north of Darwin. “We are concerned that this proposed acquisition is likely to substantially lessen competition in the supply of takeaway liquor in the local area,” ACCC commissioner Liza Carver said.
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