AGL rejects takeover bid by Mike Cannon-Brookes and Canadian fund manager Brookfield
by Adam Morton, Peter Hannam and Katharine Murphy from Environment | The Guardian on (#5WBEW)
Bid led by Atlassian founder to buy Australia's biggest polluter and shut its coal plants earlier than planned rejected as not in shareholders' best interests
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AGL Energy has rejected a takeover bid by tech billionaire Mike Cannon-Brookes and Canadian asset management giant Brookfield, saying the preliminary offer materially undervalues the company".
Brookfield and Cannon-Brookes' Grok Ventures made the extraordinary offer to take over Australia's most polluting company on Saturday, with a goal to shut its coal power plants earlier than planned.
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