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AGL rejects Brookfield, Cannon-Brookes’ $3.54bn bid: Reuters

Australian power producer AGL Energy has rejected an unsolicited $3.54 billion takeover bid from Mike Cannon-Brookes and Brookfield Asset Management, Reuters reported.

Australian power producer AGL Energy has rejected an unsolicited $3.54 billion takeover bid from Mike Cannon-Brookes and Brookfield Asset Management, Reuters reported. The surprise bid comes as AGL seeks to split itself in two: a retail and renewable energy operation and a coal-fired generation business. Brookfield and Cannon-Brookes, Australia’s second-richest man, said their goal is to speed up delivery of cleaner and cheaper energy.

Source: Reuters