AGL open to higher takeover bid but says Cannon-Brookes plan to close coal by 2030 is unrealistic

Chief operating officer says consortium needs to offer at least 30% premium on share price and ‘engage once more or two times more’

AGL Energy says a premium of at least 30% on its share price will be needed for an extraordinary takeover bid by the tech billionaire Mike Cannon-Brookes and Canadian investment firm Brookfield to potentially succeed.

Markus Brokhof, AGL’s chief operating officer, has also dismissed Cannon-Brookes’ proposal to shut the company’s coal-fired power plants by 2030, saying that was unrealistic.

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