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The Latest Breaking News from AGL

AGL open to higher takeover bid but says Cannon-Brookes plan to close coal by 2030 is unrealistic

Chief operating officer says consortium needs to offer at least 30% premium on share price and ‘engage once more or two times more’

The Guardian - AU

Mike Cannon-Brookes and Brookfield face multiple regulatory hurdles in AGL bid

The consortium being led by billionaire Mike Cannon-Brookes will face multiple regulatory hurdles to take over energy producer and retailer AGL, even if it can get the target company to agree to a deal.

ABC News

Morrison’s attempt to derail AGL takeover is a new challenge for ‘moderates’

Good luck to those Liberals in urban seats defending the Morrison government’s moves to block climate change action by investors.

Crikey

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‘World is waking up’: ex-energy boss Kerry Schott says AGL bid a sign of big changes ahead

Takeover bid comes as energy companies look to expedite shutdown of coal-fired power plants in face of growing renewable competition, Schott says

The Guardian - AU

Some choice words

Good morning, early birds. Immigration Minister Alex Hawke will head to the Supreme Court after the NSW Liberals launched a legal challenge to stop its federal counterpart from intervening, and a limited number of Sydney trains will run this morning after they all ground to a stop yesterday. It’s the…

Crikey

Why is a tech billionaire trying to buy Australia’s dirtiest energy company AGL?

Mike Cannon-Brookes believes backing renewable energy over old coal power plants will keep electricity prices down, create jobs and slash emissions – is he right?

The Guardian - AU

Mike Cannon-Brookes dismisses PM’s suggestion that coal plants should run to end of scheduled life

Tech billionaire bidding for AGL says ‘the private market is stepping up and providing replacement capacity exactly as asked’

The Guardian - AU

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A Billionaire Made A Bid For Aus’ Biggest Polluting Company In An Effort To Speed Up Net Zero

But AGL Energy rejected Atlassian co-founder Mike Cannon-Brookes' preliminary $8bn offer.

Pedestrian.tv

The battle for AGL heralds a new dawn for Australian electricity

Two events in the past week mark a watershed for Australia’s electricity industry.

The Conversation

Australian electricity generator AGL rejects $5.8B offer

Australia's largest electricity generator, AGL Energy, has rejected a takeover bid from Australian tech billionaire Mike Cannon-Brookes and Canadian investment firm Brookfield

The Independent UK

'Australia should have the lowest-priced energy in the world' says Atlassian co-founder after AGL rejects $8b takeover bid

Billionaire co-founder of software company Atlassian, Mike Cannon-Brookes, says he will continue to work with the board of energy giant AGL to pursue a takeover that would help Australia have the "lowest-priced energy in the world".

ABC News

When you don’t have an energy policy, the market takes over while the minister shouts at clouds

The bid by Brookfield and Mike Cannon-Brookes for AGL shows how the company has been undermined by a lack of energy policy from the federal government.

Crikey

AGL rejects bid by billionaire Mike Cannon-Brookes to buy energy company

Australia's biggest electricity company has rejected an $8 billion takeover bid that could have shut down its Latrobe Valley coal power station 15 years early.

ABC News

ASX closes higher, AGL rejects Atlassian billionaire's takeover bid

The Australian share market closed higher, as AGL shares surged on news the energy company had rejected a takeover bid from Mike Cannon-Brookes.

ABC News

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The Guardian - AU

AGL rejects takeover bid by Mike Cannon-Brookes and Canadian fund manager Brookfield

Bid led by Atlassian founder to buy Australia’s biggest polluter and shut its coal plants earlier than planned rejected as not in shareholders’ best interests

The Guardian - AU

Perrottet urged to work with union over NSW train dispute – as it happened

This blog is now closed

Crikey

With great responsibility comes great power

Good morning, early birds. A tech billionaire reportedly wants to buy AGL for $10 billion and make it go green by 2030, and Australia’s international border will reopen today for the first time in 704 days. It’s the news you need to know, with Emma Elsworthy.

AAP

Tech mogul 'remains optimistic' on AGL bid

AGL Energy has rejected a hefty takeover offer by a consortium helmed by tech mogul Mike Cannon-Brookes, but market experts say it's just a starting bid.

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The Guardian - AU

Mike Cannon-Brookes and Brookfield in bid to take over AGL and shut down coal plants earlier

Energy giant assessing unsolicited bid worth up to $8bn from tech billionaire and Canadian investment firm

The Guardian - AU

Coalition and Labor respond to China laser incident; 32 Covid deaths in Australia – As it happened

All the day’s news as it unfolded

ABC News

As the owner of Australia's biggest coal plant locks in a closing date, others are ramping up

Tens of millions of dollars are being spent prolonging the lives of some Australian coal-fired power stations, despite some high-profile closures.

Newcastle Herald

High Court refuses to hear Bylong appeal while AGL says Bayswater to shut earlier

Telling trends: Bayswater and Bylong

The Guardian - AU

Victoria’s ‘code brown’ to end; WA records second Covid death – as it happened

This blog is now closed

The Guardian - AU

Why the shutdown of AGL’s coal-fired plants will probably happen even sooner than power giant says

The two plants selected for early shutdown currently produce about 7% of Australia’s total carbon emissions

Newcastle Herald

AGL admits renewable energy rise could see Bayswater close before 2030

The anticipated closure of Bayswater power station could be revised forward again if it became unviable to operate due to increased amounts of renewable energy entering the grid, AGL has confirmed.

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