The Canadian partners came back to the negotiating table over the weekend, presenting a non-binding offer to buy the company for A$8.25 a share, up from the initial offer of A$7.50. The new offer valued the company at A$5.43 billion.
AGL said the consortium’s latest proposal ignored “the momentum” the firm has recently seen in the business, including its “solid” half year result, progress on a demerger interest in its energy transition investment partnership and improved wholesale prices.
The Brookfield-Grok consortium looking to take private & transform AGL is putting our pens down – with great sadness.
This weekend, the board rejected our raised offer of $8.25. 46% more than the price of $5.55 about 90 days ago 🧵 (1/3) pic.twitter.com/c5KYwGozDo
— Mike Cannon-Brookes 👨🏼💻🧢🇦🇺 (@mcannonbrookes) March 6, 2022
The Australian utility proposed in March to split into separate publicly traded…
