Billionaire Mike Cannon-Brookes took to Twitter to declare Monday a 'huge day for Australia' after AGL Energy announced it would dump its demerger proposal amid 'opposition from a small number of investors'.
The statement said the Board “continues to believe that the Demerger Proposal offers the best way forward for AGL Energy and its shareholders” but no longer thinks the path is available.
AGL Energy announced it would withdraw its demerger proposal in a statement on Monday. Picture: NCA NewsWire /Brendan Beckett “In these circumstances, the AGL Energy Board considers that it is in the best interests of AGL Energy shareholders to withdraw the Demerger Proposal.”
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