i am not a shareholder here but I have a lot of experience in the sector and a strong background in M&A.
I would be very wary of voting no to the demerger as a no vote will likely see a change of control event, with MCB now seeking 2 board seats for a circa 10% holding. That should not fly as if he wants to control every outcome he should pay the premium, and not be gifted this superior position.
a no vote may well be the right thing for the environment, but as a shareholder it will be a bad result, as MCB control will not be fully focussed on commercial drivers, but on their green agenda. This may be detrimental to AGL returns and future dividends.
that is fine if he takes control with a premium offer, but without a premium offer AGL shareholders appear to be ceding control and will likely being short changed in that event.
Owner beware.
AL
AGL Price at posting:
$8.87 Sentiment: None Disclosure: Not Held
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