Bidders expected to walk away after offer of $8.25 a share rejected by board of Australia’s largest energy company
AGL Energy has rejected a higher takeover bid from the Canadian asset manager Brookfield and the tech billionaire Mike Cannon-Brookes, potentially seeing off the unsolicited bid.
The pair made an offer of $8.25 a share for Australia’s largest electricity generator on Friday night, topping their initial offer of $7.50 made last month, multiple sources told Guardian Australia.