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The proposals raised hackles in the federal government, with suggestions the Foreign Investment Review Board could block it on national interest grounds, amid fears the early closures of coal plants could raise the risk of blackouts. Those fears were Mr Hannah said he had been approached by a group of shareholders who were proposing what they said would be a better solution for AGL, which has been hit by the rapidly transforming electricity market and a flood of cheap renewables into the grid.
In a letter to shareholders on Monday, AGL chairman Peter Botten said the demerger creates the potential to maximise growth in the separate businesses, supports returns and ensures the future value of the two companies remains with shareholders. The company noted it cannot cover the losses through insurance. As a result, AGL has cut its guidance for underlying earnings before interest, tax, depreciation and amortisation to $1.23 billion-$1.3 billion, down from its earlier $1.275 billion-$1.4 billion range.
A good billionaire. Probably the only one. Maybe Musk not sure? Sold my AGL shares today Earnings downgrade after a big rally.
If his first move is punting Hunt then he’s got my vote…
Gray-haired man in suit looking concerned.
Legend
asicmedia I hope this time, the corporate regulator takes a keen interest in the actions of Mike-3-names. That any actions impact shareholders, listed stock, securities law. ASX JoshFrydenberg SenatorHume mrjoeaston
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