AGL rejects higher bid from Mike Cannon-Brookes and Brookfield, potentially ending takeover push
by Peter Hannam from on (#5WTER)
Bidders expected to walk away after offer of $8.25 a share rejected by board of Australia's largest energy company
AGL Energy has formally rejected a revised takeover bid from the Canadian asset manager Brookfield and the tech billionaire Mike Cannon-Brookes, seeing off the unsolicited bid that the suitors claimed would have been the world's largest decarbonisation project.
The pair made an offer of $8.25 a share for Australia's largest electricity generator on Friday night, topping their initial offer of $7.50 made last month,.
Continue reading...