MARKETS

AGL abandons Vocus offer

AGL Energy has already walked away from its A$3 billion Vocus bid saying this morning it had ceased its due diligence announced and withdrawn its non-binding indicative proposal less than a week after making it, with AGL CEO Brett Redman saying the company was “no longer confident” the acquisition offered value to its shareholders.

Four week due diligence cut short after power retailer pulls plug in week

Four week due diligence cut short after power retailer pulls plug in week

Telco Vocus last week agreed to a four-week due diligence period after receiving an unsolicited offer for a $4.85 per share to be implemented via scheme arrangement which valued the company at $3 billion. ...

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