Billionaire Likely to Sell AGL Stake if Demerger Goes Through -- Update [MarketWatch]
Brookfield Asset Management Inc Class A Limited Voting Shares (BAM)
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Source: MarketWatch
Mr. Cannon-Brookes, the co-founder of Nasdaq-listed Atlassian Corp. and AGL's largest shareholder, on Friday said he had been encouraged by discussions with large and retail shareholders since he assembled an 11.3% stake in recent weeks. He didn't name any of the AGL shareholders with whom he had spoken. The entrepreneur wants to halt plans by Australia's biggest polluter to put its aging coal-fired power plants into a separate business that he said would face multiple risks and be unattractive to investors. His plan to be a long-term investor would likely change if the demerger went ahead, he said. "We would have to respect the vote, there'll be no crazy Trumpian stuff here," he told a media audience in Sydney. "We would probably have to seriously reconsider what we're going to do." AGL in March rejected a takeover proposal from Brookfield Asset Management Inc. and Mr. Cannon-Brookes, which included plans to close the coal plants ahead of schedule and replace them with renewab
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