March 8 (LNGJ) - AGL Energy, the Australian utility whose plans for an LNG import terminal in the state of Victoria were thwarted by regulators, has rejected an unsolicited improved bid from Brookfield Asset Management of Canada and one of Australia’s wealthiest individuals.
The latest offer from Brookfield and Australian billionaire Mike Cannon-Brookes is to seek to acquire AGL for $8.25 per share, up from $7.50 per share last month which had valued the company at A$4.93 billion (US$3.54Bln). “The revised unsolicited proposal continues to ignore the opportunity that AGL Energy shareholders have through our proposed demerger to realise potential future value,” said AGL Chairman Peter Botten.
