MARKETS

AGL rejects second takeover bid from Grok, Brookfield

AGL Energy has rejected a second takeover bid by a consortium made up of Brookfield Asset Management and Mike Cannon Brookes’ Grok Ventures, arguing the higher bid of A$8.25 per share is still well-below fair value for the company.

Mark Tilly

Argues demerger will create more value for shareholders

Cannon-Brookes took to Twitter last night to say that the consortium would now walk away after the second bid on the company failed. "The Brookfield-Grok consortium looking to take private and transform...

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