Agl Energy Stock News

Australia''s AGL Energy confirmed on Monday it rejected a sweetened A$5.4 billion ($4.0 billion) takeover proposal from tech billionaire Mike Cannon-Brookes and Canada''s Brookfield Asset Management , saying it still undervalued Australia''s top power producer.

AGL Energy has rejected an improved takeover bid from a consortium including Australian billionaire Mike Cannon-Brookes, forcing the would-be predators to put "our pens down".Mr Cannon-Brookes used Twitter on Sunday night to announce it would not proceed, ahead of the power company''s confirmation to the Australian Securities Exchange on Monday.

Bidders expected to walk away after an offer of $8.25 a share was rejected by the board of Australia’s largest energy company Get our free news app ; get our morning email briefing AGL Energy has rejected a higher takeover bid from Canadian asset manager Brookfield and tech billionaire Mike Cannon-Brookes , potentially seeing off the unsolicited bid. 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, multiple sources told Guardian Australia. Continue reading…

Brookfield and technology billionaire Mike Cannon-Brookes are reportedly on the verge of quitting a massive bid for AGL Energy after power giant rejected a second takeover offer.

One of AGL Energy’s top shareholders says the Mike Cannon-Brookes-fronted consortium will have to significantly hike its $8bn takeover bid to gain traction with investors even while it remains cautious on the merits of the power giant’s planned demerger.

One of AGL Energy’s top shareholders says the Mike Cannon-Brookes-fronted consortium will have to significantly hike its $8bn takeover bid to gain traction with investors even while it remains cautious on the merits of the power giant’s planned demerger.

Investment firm Snowcap has urged the AGL Energy board to not sell out and instead choose a faster exit from coal to add up to 50 per cent to the share price.

Investment firm Snowcap has urged the AGL Energy board to not sell out and instead choose a faster exit from coal to add up to 50 per cent to the share price.

Atlassian co-founder Mike Cannon-Brookes, who is making a joint $5 billion bid for AGL Energy with Brookfield, said Australias energy grid was ready for the exit of coal-fired power.

Billionaire Mike Cannon-Brookes still wants to buy AGL Energy, but the competition watchdog is worried about the consortium holding wires, poles and generators.

Billionaire Mike Cannon-Brookes still wants to buy AGL Energy, but the competition watchdog is worried about the consortium holding wires, poles and generators.

Wednesday : Russia sanctioned by UK and EU as it plans to expand borders of controlled territories. Plus: celebrity cooks most beloved possessions Good morning. Vladimir Putin has ordered his forces to enter eastern Ukraine to perform peacekeeping duties and confirmed that Russia has recognised the expanded borders of the two Russian-controlled territories there, dramatically increasing the likelihood of a larger war in the near future. Britain and the US say Putins order amounts to the beginning of an invasion. The UK and EU will impose sanctions against Russians and entities and Germany has halted the Nord Stream 2 gas pipeline approval in reaction to Russias grave breach of international law. The situation is moving fast heres what could happen next . AGL Energy says a premium of at least 30% on its share price will be needed for an extraordinary takeover bid by the tech billionaire Mike Cannon-Brookes and the Canadian investment firm Brookfield to succeed . Markus Brokhof, AGLs chief operating officer, dismissed Cannon-Brookes proposal to shut the companys coal-fired power plants by 2030 as unrealistic.

Chief operating officer says consortium needs to offer at least 30% premium on share price and engage once more or two times more Get our free news app ; get our morning email briefing AGL Energy says a premium of at least 30% on its share price will be needed for an extraordinary takeover bid by the tech billionaire Mike Cannon-Brookes and Canadian investment firm Brookfield to potentially succeed. Markus Brokhof, AGLs chief operating officer, has also dismissed Cannon-Brookes proposal to shut the companys coal-fired power plants by 2030, saying that was unrealistic. Sign up to receive an email with the top stories from Guardian Australia every morning Continue reading

Australian power producer AGL Energy said Monday that it rejected a $3.6 billion (A$5 billion) takeover bid from a consortium led by Canadian investment firm Brookfield Asset Management.

The Australian sharemarket finished 0.16% higher on Monday despite being down close to 1% this morning. Reports that US and Russian leaders are open to meet provided some support. AGL Energy rose after receiving a takeover offer, while The a2 Milk Company rose by ~11% after flagging a stronger second half.