AGL +10.61% Rallied strongly today following a takeover tilt from a Brookfield / Mike Cannon-Brookes consortium that proposed buying AGL for $7.50, a miniscule ~5% premium to the last close and completely unrealistic for a change of control transaction, however we do support their rationale for winding up coal powered generation and using AGL’s footprint to expediate the transition to renewables. We think they’ll be more to play out with this.
MM remains long & bullish AGL in our Income Portfolio
Add To Hit List
