‘Godawful mess’: AGL’s ‘own goal’ leaves it vulnerable for takeover
AGL Energy has long struggled with the need to decarbonise its fleet of coal-fired power stations. That won’t change with the company’s scrapped demerge plans.
AGL Energy may have rebuffed the proposed takeover from Atlassian founder Mike Cannon-Brookes and Canadian asset manager Brookfield earlier this year, but the audacious bid is still having big repercussions for Australia’s biggest electricity generator.
Weeks after Cannon-Brookes and his Grok Ventures changed tack and bought an 11 per cent stake in AGL to block the proposed demerger, AGL dumped its move to split into two companies: the coal power-focused Accel Energy and retailer AGL Australia.
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