AGL Energy CEO Graeme Hunt says the board is pursuing legal and regulatory avenues to ensure the interests of other shareholders are protected as he accuses tech billionaire Mike Cannon-Brookes of trying to drive down the share price so he can get control of the electricity giant on the cheap.

“The company will always make sure that it protects all of its shareholders,” Mr Hunt told The Australian Financial Review in comments that intensify the battle between the board and its new biggest shareholder ahead of a crucial shareholder vote on a proposed demerger next month.