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The Independent UK
The Independent UK
National
Via AP news wire

Australian electricity generator AGL rejects $5.8B offer

Australia AGL Mike Cannon-Brookes AGL Energy Brookfield
Copyright 2022 The Associated Press. All rights reserved.

Australia's largest electricity generator, AGL Energy, has rejected an 8 billion Australian dollar ($5.8 billion) takeover bid from tech billionaire Mike Cannon-Brookes and Canadian investment firm Brookfield, who want to accelerate Australia’s largest electricity generator’s transition away from coal-fired power.

The Australian founder of software company Atlassian and Brookfield made the preliminary and non-binding offer of AU$7.50 ($5.39) per share on Saturday, AGL said Monday.

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