CSG

AGL makes $171m offer for Sydney Gas

AGL Energy has made a $171 million all-cash takeover bid for Sydney Gas in a move to increase its gas reserves in New South Wales.

The offer, which comes on the back of Arrow Energy's bid for Pure Energy, values Sydney Gas at 42.5c per share and represents a 55% premium on its closing price of 27.5c on Monday. "Combining this acquisition...

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