AGL agl energy limited.

Brookfield, Cannon-Brookes in joint bid for AGL Energy, page-7

  1. 435 Posts.
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    From the AFR;

    https://www.copyright link/street-talk/brookfield-cannon-brookes-in-joint-bid-for-agl-energy-20220220-p59y11

    Canadian asset manager Brookfield and Australian billionaire Mike Cannon-Brookes have teamed up on a joint bid for AGL Energy, and propose shutting the company’s coal-fired power stations earlier than planned.AGL’s power plants account for an estimated 8 per cent of Australia’s greenhouse gas emissions.

    It is understood the pair submitted a non-binding and indicative offer over the weekend and it is being considered by AGL Energy’s board.

    The bid is believed to value AGL Energy at about $8 billion, including debt. Sources said it was worth $7.50 a share, which was a less than a 5 per cent premium to AGL Energy shares’ last close.AGL’s board is due to meet on Sunday afternoon.

    I'd expect a few challenging bids to rapidly appear in the next few weeks ie. Telstra, Shell, Total etc companies that are all looking for a position in the profitable Australian utilities market.

    Hopefully this bid will speed things up. Can't see the board recommending the current bid. I'd personally be looking at somewhere closer to $9.50 to $10 per share.
 
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Last
$9.78
Change
0.000(0.00%)
Mkt cap ! $6.579B
Open High Low Value Volume
$9.78 $9.83 $9.73 $12.81M 1.310M

Buyers (Bids)

No. Vol. Price($)
1 255 $9.78
 

Sellers (Offers)

Price($) Vol. No.
$9.81 11314 3
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