NewsBite

Cannon-Brookes fronts $8b bid to buy and shut AGL coal

Anthony Macdonald, Sarah Thompson, Mark Ludlow and Angela Macdonald-Smith
Updated
EmailLinkedInTwitterFacebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Australian software billionaire Mike Cannon-Brookes and Canada’s Brookfield have made an $8 billion bid for Australia’s power giant AGL Energy, and promised to invest up to another $10 billion to replace its coal-fired power stations by 2030.

Atlassian co-founder Cannon-Brookes and Brookfield, whose bid team includes former Bank of England governor Mark Carney, lobbed the $7.50 a share offer on Saturday afternoon, telling the 185-year-old AGL Energy it wanted to own the company as it turned off its coal-fired power stations and replaced them with renewable energy projects.

Loading...
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Mark Ludlow writes on politics, energy and infrastructure based in Brisbane. Connect with Mark on Twitter. Email Mark at mludlow@afr.com
Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com
EmailLinkedInTwitterFacebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

License article

Read More

Latest In Energy

Fetching latest articles

Most Viewed In Companies

    Original URL: https://www.afr.com/companies/energy/cannon-brookes-fronts-8b-bid-to-buy-and-shut-agl-coal-20220220-p59y34