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Brookfield, Cannon-Brookes walk away from AGL deal: Reuters

AGL Energy has rejected a sweetened A$5.4 billion ($4 billion) takeover proposal from Brookfield Asset Management and Mike Cannon-Brookes, saying it still undervalued Australia’s top power producer, Reuters reported.

AGL Energy has rejected a sweetened A$5.4 billion ($4 billion) takeover proposal from Brookfield Asset Management and Mike Cannon-Brookes, saying it still undervalued Australia’s top power producer, Reuters reported. Brookfield and Cannon-Brookes said they had walked away, leaving AGL to pursue plans to split its coal-fired power business from its energy retail business.

Source: Reuters