Australian energy company AGL rejects second takeover offer of Brookfield Consortium

SYDNEY (Australia), March 7 Australia’s AGL, one of Australia’s major energy providers, announced on Monday that it had rejected a second takeover offer by a consortium led by Canadian Brookfield, raising the price by 10% from the proceedings in relation to its initial proposal. The energy company said in a statement sent to the Australian Stock Exchange (ASX) on Monday that the consortium of Brookfield and Australia’s Grok Ventures has offered A$8.25 (about $6, or €5.6) per share. The new bid, which follows another made two weeks ago, values ​​AGL at about A$9 billion (US$6.651 million, or €6.115 million), according to ABC public broadcaster. In its statement to the ASX, AGL said the “revised, unsolicited, initial and non-binding” offer remains “below its fair price based on a change in its control” as well as its “severance value”. . The company, one of the ocean’s biggest polluters, is focusing on its plans to split into two companies AGL Australia and Accel Energy, which would mean a better alternative for its shareholders, as well as develop flexible and renewable power generation. A source close to the consortium, which has been seeking to speed up the shutdown of AGL’s three coal-fired power plants, suggests it may abandon the acquisition, telling ABC.