Exactly. Demerger lets both companies part their ways and meet...

Exactly. Demerger lets both companies part their ways and meet their own fates. Can't get more capitalistic than that.

If fossil fuels are no longer commercially viable, AXL will fail.
If Green AGL is going to be commercially viable, AGL will succeed.

I suspect both will succeed wildly because AXL will still be a low cost producer and continue to print cash until the plants shutdown by which the new management should have built up it's next generation low cost energy sources that's less controversial. AGL on the other hand would have accessed the capital market as the spanking clean retail generator to build up it's own assets.

Remember the greenies forced the funds to sell off AGL for ESG reasons and now AGL has said, "Fine, let's go green but let me break up the dirty part from the clean part so that the clean part can still access the capital markets while we wind down the dirty part". The green woke crowd now say "no, no you can't break it up". Then comes a Elon-wannabe who first tries to convince you that your shares are worth no more than $6, then $8 and then he sees the train leaving the station. He desperately jumps onto the last carriage and starts yelling that the train master is not doing his job.

Remember, he tried to convince you that your shares are worth not more than $6.

Why should the shareholders elect him to be the new train master. Why even give him a seat at the table.