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Chanticleer

AGL bid is a Cannon-Brookes special

The consortium bidding for AGL gets the market message that its bid is too low, but there is no sign yet of a higher offer.

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Software billionaire Mike Cannon-Brookes says the takeover of AGL, in partnership with Brookfield Asset Management, is “the single biggest decarbonisation project” they could find in the world.

But getting to the endgame of owning the business and shutting the Liddell and Loy Yang A coal-fired power stations by 2030 will take a lot more money than currently proposed.

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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
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    Original URL: https://www.afr.com/chanticleer/agl-bid-is-a-cannon-brookes-special-20220221-p59y6x