'Huge day for Australia': Energy giant AGL drops plans to split company

Source:AGL Energy has ditched plans to split the company into two following strong opposition from billionaire Mike Cannon-Brookes, 17 days before shareholders were due to vote on the proposal.

AGL said it believed a majority of retail and institutional investors would have supported the demerger. "Board and management renewal must occur through an orderly, expedited transition period with appropriate external advice," AGL said.

Dreams don't pay the bills. But try telling that to super wealthy philanthropists! LOL

Why weren't regulators doing their job?

Why are we reducing people to titles like their person income, he’s a smart guy and a very successful business man, give people their dues! Anyway he is pretty switched on and I agree with his outlook on Australia’s energy policies and the role the private sector plays. So…

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AGL Energy dumps demerger plan after 'opposition' from billionaire investorBillionaire Mike Cannon-Brookes took to Twitter to declare Monday a 'huge day for Australia' after AGL Energy announced it would dump its demerger proposal amid 'opposition from a small number of investors'. He will switch off Gas to force transition. That’s Blackmail! 👍 👏 mcannonbrookes ROCKS (non fossil of course) ‘Small number of voters’ huh? Yeah, sure. Companies often change their entire strategy based on a minority vote 🙄
Source: SkyNewsAust - 🏆 7. / 78 Read more »

AGL Energy counts numbers ahead of demerger voteIt’s a big weekend for AGL Energy, with proxy reports due to land in coming days.
Source: FinancialReview - 🏆 2. / 90 Read more »

AGL Energy considers dropping plan to demergeThe energy company is considering whether to not proceed with its planned demerger amid opposition from shareholders. Well well well
Source: FinancialReview - 🏆 2. / 90 Read more »