AGL Energy has ditched plans to split the company into two following strong opposition from billionaire Mike Cannon-Brookes. AGL MikeCannonBrookes
Source:AGL Energy has ditched plans to split the company into two following strong opposition from billionaire Mike Cannon-Brookes, 17 days before shareholders were due to vote on the proposal.
AGL said it believed a majority of retail and institutional investors would have supported the demerger. "Board and management renewal must occur through an orderly, expedited transition period with appropriate external advice," AGL said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AGL appears set to dump demerger plan, yielding to Mike Cannon-BrookesBoard to meet on Monday, with future of chief executive also up in the air if demerger is called off
Read more »
Cannon-Brookes’ huge AGL victory doesn’t guarantee him controlOPINION: The breadth of AGL’s capitulation to Mike Cannon-Brookes is breathtaking. But the billionaire’s stake shouldn’t give him outsized influence on AGL’s future.
Read more »
AGL Energy dumps demerger plan after 'opposition' from billionaire investorBillionaire 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'.
Read more »
AGL Energy counts numbers ahead of demerger voteIt’s a big weekend for AGL Energy, with proxy reports due to land in coming days.
Read more »
AGL Energy considers dropping plan to demergeThe energy company is considering whether to not proceed with its planned demerger amid opposition from shareholders.
Read more »
AGL dumps coal split plan, chairman and CEO to resignAGL has been thrown into crisis after suspending long-held plans to spin off its coal-fired power stations, a move tech billionaire Mike Cannon-Brookes has labelled as a “great day for Australia”.
Read more »