Brookfield’s stealthy return to takeover target AGL Energy – sans bidding partner Grok Ventures – won’t come as a huge surprise to analysts and fundies.
Little has changed since Brookfield and Grok rocked up with a stunning proposal to acquire AGL Energy in February, and made a second bid in March: Brookfield still has a mountain of money to invest in energy transition globally, and AGL is still Australia’s No.1 (if not the world’s biggest) transition target.
What’s more interesting, however, will be tech billionaire and AGL’s biggest shareholder Mike Cannon-Brookes’ reaction given he’s now (apparently) on the other side of the fence from Brookfield.
Elsewhere, we’ve got our mitts on the sale flyer for a portfolio of seven Sydney office buildings, all located within 2km of the CBD and representing “premium commercial space in their respective markets”. The auction, expected to be hotly contested and attract the likes of property gorilla Charter Hall, is being run by Morgan Stanley and Knight Frank.
Clearing and broker services group Openmarkets is scrambling to secure a cashed-up new backer, so it can repay debts and be in a solvent position come its June 30 balance date.
