Mike Cannon-Brookes and Brookfield in bid to take over AGL and shut down coal plants earlier
by Adam Morton and Peter Hannam from on (#5WAWW)
Energy giant assessing unsolicited bid worth up to $8bn from tech billionaire and Canadian investment firm
Tech billionaire Mike Cannon-Brookes and the Canadian asset management giant Brookfield have launched an extraordinary joint bid to take over AGL Energy, Australia's most polluting company, with the goal to shut its coal power plants earlier than planned.
The unsolicited multi-billion dollar offer, lodged on Saturday, would see Brookfield and Cannon-Brookes' Grok Ventures acquire AGL's power generation and energy retail divisions, which include coal, gas and renewable energy generation assets. The AGL board was meeting to discuss the offer on Sunday.
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