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Cannon-Brookes’ AGL mailout stokes transition FOMO, dividend fears

Lucas Baird
Lucas BairdReporter

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Mike Cannon-Brookes has told AGL’s nearly 150,000 shareholders in a new letter that the company’s plan to split in two “misses one of Australia’s biggest economic opportunities”, risks future dividends and destroys value.

It is the billionaire’s latest salvo in a proxy war over the future of the energy giant, which will come to a head at a scheme meeting on June 15 at which investors will decide AGL’s future.

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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com

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    Original URL: https://www.afr.com/companies/energy/cannon-brookes-agl-mailout-stokes-transition-fomo-dividend-fears-20220517-p5am4l