AGL Energy Ltd Watchlist
MCB May Block the AGL De-Merger, But Think About the Alternative
234 Views, 10 May 2022 21:14
AGL Energy Ltd (AGL AU) announced a de-merger of its power distribution and power generation segments on 30 March 2021 after a 1H21 results comment saying "conflicting dynamics necessitated a review."
- So for a year, AGL prepared its de-merger and talked about it every quarter. 11.5 months later, MCB/Brookfield put a lowball bid on the table. Then upped it. Both rejected.
- MCB says the de-merger plan is bad, and some analysts now say it is "underwhelming." Duh. Not much has changed in 12mos. But the alternative? Underwhelming too, but less independent.