AGL Energy Limited (ASX:AGK) will acquire additional shares in Australian Power and Gas Company Limited (ASX:APK) for up to 52 cents per share.
The energy company says the price is equal to that which it made an off-market takeover offer with.
AGL now has voting power in APG of approximately 81 per cent, after lifting it to 75 per cent last week.
The Australian Competition and Consumer Commission deems the proposed takeover as unlikely to substantially lessen competition in Victoria's energy sector.
AGL generated a net profit of $389 million in fiscal 2013.
AGK Price at posting:
$15.43 Sentiment: None Disclosure: Held
