Australian electricity generator AGL rejects $5.8B offer
CANBERRA, Australia (AP) — 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 the company’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.