Origin rejects BG's revised bid

PERTH (Reuters) - Origin Energy Ltd (ORG.AX), Australia's No. 2 power retailer, rejected a revised $13 billion (6.6 billion pound) takeover bid from UK gas producer BG Group (BG.L) and upped the ante by doubling its own gas-reserves estimate.

Origin said in a statement it had received an increased offer of A$15.50 per share in cash, or a total of around A$13.6 billion, up from an initial offer last month of A$14.70 a share, a 40 percent premium to Origin's share price at the time.

(Reporting by Fayen Wong)