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. |
---|---|---|
$9.81 | 11314 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1550 | 9.770 |
4 | 18100 | 9.750 |
1 | 12291 | 9.740 |
1 | 308 | 9.730 |
5 | 11379 | 9.720 |
Price($) | Vol. | No. |
---|---|---|
9.840 | 2000 | 1 |
9.850 | 5081 | 3 |
9.880 | 10000 | 2 |
9.890 | 5000 | 1 |
9.900 | 3000 | 2 |
Last trade - 16.10pm 25/07/2025 (20 minute delay) ? |
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