Mike Cannon-Brookes could soon cement a position as the greatest corporate raider to have stalked an ASX-listed company.will, in one fell swoop, overshadow the mighty takeover titans who have graced the pages ofMike Cannon-Brookes has put the old takeover raiders in the shade.None of the following corporate raiders – Robert Holmes a Court, Alan Bond, John Elliott and John Spalvins – were able to take control of a company with just 11 per cent of the issued capital.
It has cost him $600 million to arrive at this incredibly powerful position. But that is peanuts compared to what he would have had to pay to make a takeover with a full 30 per cent premium. The demise of the board of Ardent Leisure following an attack by Weiss is comparable to what Cannon-Brookes is doing with AGL given Weiss’ Ariadne only owned 10 per cent of Ardent’s issued capital.
After digging back through the archives, Chanticleer found an activist shareholder campaign by Sandon Capital that forced a change of control of the board with an equity position of about 5 per cent of the issued capital.But the company involved, Coventry Group, had a market capitalisation of $116 million. The overarching message from that situation was that it has taken almost a decade to knock the company into shape.
Source: Energy Industry News (energyindustrynews.net)
Really? Haven't researched yet about SunCable and 'DoubleBay Jesus'' lacklustre climate change credentials.
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How Cannon-Brookes’ Project Greenlight blew up AGLMike Cannon-Brookes was only just getting warmed up at AGL Energy, when the dominoes started to fall. Economic terrorist Basically, he has ridden in to crash the strategy agreed by the board, now he will crash the share price, then buy at a dirt cheap price as he wanted in the first place. He should not be allowed to hold a company to ransom. An 11% shareholder doesn’t have the power to remove the chief executive officer, chairman etc. Let me guess…final nail in the coffin was change of gov, now trying to flee with non disclosure agreements? 🧐🤨
Source: FinancialReview - 🏆 2. / 90 Read more »
Cannon-Brookes’ huge AGL victory doesn’t guarantee him controlOPINION: The breadth of AGL’s capitulation to Mike Cannon-Brookes is breathtaking. But the billionaire’s stake shouldn’t give him outsized influence on AGL’s future. he'll send it broke. AGL got what it deserved for trying to demerger. Yeah, because the Board has done a great job already ... oh ?
Source: FinancialReview - 🏆 2. / 90 Read more »
AGL appears set to dump demerger plan, yielding to Mike Cannon-BrookesBoard to meet on Monday, with future of chief executive also up in the air if demerger is called off seemed to take the share price out of the death spiral As they should. Bravo Mike 👏🏻👏🏻👏🏻
Source: GuardianAus - 🏆 1. / 98 Read more »
AGL's largest shareholder wants to help lower the cost of your power billsAGL's biggest shareholder, billionaire businessman Mike Cannon-Brookes, is not ruling out another takeover bid for the energy giant but says he is focused on rebuilding the company for renewable generation. Go you good thing mcannonbrookes Pay some tax in Australia then ya grub Soo CSIRO says $1t,he's saying $10b. Govt is providing $1b. A) I'd say the CSIRO is right, which is fine that's economy growing infrastructure. B) how the fuck do our prices go down.. There's $8-999999b that companies I garuntee will pass on to the consumer.
Source: abcnews - 🏆 5. / 83 Read more »
AGL appears set to dump demerger plan, yielding to Mike Cannon-BrookesBoard to meet on Monday, with future of chief executive also up in the air if demerger is called off seemed to take the share price out of the death spiral As they should. Bravo Mike 👏🏻👏🏻👏🏻
Source: GuardianAus - 🏆 1. / 98 Read more »
AGL in crisis as split set to be scrappedAGL Energy is set to scrap its proposed split after a relentless campaign by its largest shareholder, Mike Cannon-Brookes, throwing the country’s largest electricity generator deeper into crisis. I feel sorry for AGL shareholders, when their voice becomes meaningless because some rich dude wants to win. Mike Cannon-Brookes will be an excellent owner of AGL AGL was already in crisis MCB just stopped them from making it worse 👍🏻
Source: FinancialReview - 🏆 2. / 90 Read more »