Bidders expected to walk away after an offer of $8.25 a share was rejected by the board of Australia’s largest energy company
Atlassian chief executive Mike Cannon-Brookes, along with Canadian asset manager Brookfield, increased his bid from the $7.50 a share offer that AGL said materially undervalued the company.Atlassian chief executive Mike Cannon-Brookes, along with Canadian asset manager Brookfield, increased his bid from the $7.50 a share offer that AGL said materially undervalued the company.AGL Energy has rejected a higher, potentially seeing off the unsolicited bid.
AGL’s board met on Sunday and decided to reject the second offer, worth about $8.5bn, when the company’s debt of about $3bn is included.
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