Business & Finance / 21 February 2022
Firing up a gassy takeover bid
Atlassian co-founder Mike Cannon-Brookes is making a splash with a bid for energy giant AGL. Reports say he’s teamed up with Canadian fund manager Brookfield for the circa $8 billion bid. The Aussie tech entrepreneur’s fortune is said to be worth more than $20 billion, and in recent times, he’s become a significant investor in renewable energy projects. As for AGL, it is set to split its retailing and power generation divisions, and it’s planning to remove coal-fired plants from its roster of energy-generating assets by 2045, which is sooner than initially planned. Reports say Cannon-Brookes/Brookfield would get out of coal-fired power generation even sooner, which will cost a pretty penny – but it would bring down AGL’s carbon footprint, which is estimated to account for 8% of Australia’s total greenhouse gas emissions. No one’s confirmed anything at this point, so look out for some clarification when the market opens this morning…
Know someone who'd be interested in this story? Click to share...
The Squiz Today
Your shortcut to being informed, we've got your news needs covered.
Also Making News
Get the Squiz Today newsletter
Quick, agenda-free news that doesn't take itself too seriously. Get on it.