Good morning. Vladimir Putin has ordered his forces to enter eastern Ukraine to perform “peacekeeping duties” and confirmed that Russia has recognised the expanded borders of the two Russian-controlled territories there, dramatically increasing the likelihood of a larger war in the near future. Britain and the US say Putin’s order amounts to the “beginning of an invasion”. The UK and EU will impose sanctions against Russians and entities and Germany has halted the Nord Stream 2 gas pipeline approval in reaction to Russia’s “grave breach” of international law. The situation is moving fast – here’s what could happen next.
AGL Energy says a premium of at least 30% on its share price will be needed for an extraordinary takeover bid by the tech billionaire Mike Cannon-Brookes and the Canadian investment firm Brookfield to succeed. Markus Brokhof, AGL’s chief operating officer, dismissed Cannon-Brookes’ proposal to shut the company’s coal-fired power plants by 2030 as unrealistic. Responding to the consortium’s offer of a 4.7% premium on the Friday share price, Brokhof said any investment banker would advise a full company takeover required the suitors “to offer a premium of 30-40%”.
