The planned split of AGL Energy that billionaire Mike Cannon-Brookes is trying to foil will cost $260m upfront and $35m in extra costs per year for the demerged entities, documents from the energy giant show.
In separate releases to the ASX on Friday afternoon, AGL laid out its details of the demerger ahead of a 15 June vote by shareholders. As the biggest shareholder following his purchase of a 11.3% holding, Cannon-Brookes can block the move with the support of another 13.7% of share owners.
