Cannon-Brookes, Brookfield Raise AGL Offer

Tech billionaire Mike Cannon-Brookes and international asset manager Brookfield have raised their bid to buy Australian energy giant AGL and fast-track the closures of its carbon-intensive coal-fired power plants, The Age reported on Sunday.

AGL, the nation’s biggest power supplier, last month knocked back Cannon-Brookes and Brookfield’s A$8 billion ($5.9 billion) takeover proposal, telling investors the offer “materially undervalues” the business.

Read the full report: The Age

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.