The billionaire behind tech company Atlassian and part-owner of the South Sydney Rabbitohs has shocked the nation with the news that he would lead a group in bid to acquire AGL energy.
THE bid by a green billionaire to buy Australia’s most polluting company may have stumbled at the first hurdle, but it’s likely the race is far from over.
The bid by a green billionaire to buy Australia’s most polluting company may have stumbled at the first hurdle, but it’s likely the race is far from over. AGL Energy Ltd. AGL.AX, Australia’s largest power producer, rejected an unsolicited takeover bid on Monday from tech magnate Mike Cannon-Brookes and Canada’s Brookfield Asset Management. Cannon-Brookes, Australia’s .
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Billionaire entrepreneur Mike Cannon-Brookes believes that backing renewable energy over old coal power plants would keep electricity prices down, create jobs and slash emissions, but is he right?
<strong>What exactly is being proposed?</strong>
It is, by any measure, an extraordinary intervention in Australia’s rapidly evolving electricity market. A consortium worth hundreds of billions of dollars on Saturday lodged a formal offer to buy AGL Energy the country’s biggest greenhouse gas emitter for just short of 5 percent above the closing share price on Friday.
The headline name behind the bid is Mike Cannon-Brookes, 42-year-old cofounder of software company Atlassian, green