Tag: Mike Cannon-Brookes

AGL Energy Withdraws Demerger Plan, Announces Board Renewal

AGL Energy scrapped its demerger plan on May 30 after facing strong opposition from its largest shareholder–tech billionaire Mike Cannon-Brookes. In its latest statement, the company said that it was unlikely for the demerger proposal to get the necessary support from three-quarters of the shareholders for the proposition at the June 15 shareholder meeting. “While…


Australian Green Billionaire Confronts Energy Giant Over Demerger Plan

Australian tech billionaire and climate activist Mike Cannon-Brookes has clashed with AGL Energy’s board over its demerger plans after becoming the company’s largest shareholder. This clash comes just short of two months after Cannon-Brookes failed to take over Australia’s largest electricity generator in March to speed up the company’s decarbonisation process. The co-founder of the…


Australian Billionaires Raise $210 Million For World’s Biggest Solar Project

Andrew Forrest and Mike Cannon-Brookes—Australia’s most vocal billionaires on climate change—have invested a further $210 million towards the world’s biggest intercontinental renewable power system. Sun Cable’s $30 billion Australia-Asia Power Link (AAPowerLink) project had already received nearly $50 million from Forrest and Cannon Brookes in 2019 through their respective investment firms, Squadron Energy and Grok…


Second Attempted Takeover of Australian Energy Giant by Green Investors Fails

One of Australia’s largest energy providers, AGL Energy, has rejected a second bid from tech billionaire Mike Cannon-Brookes to buy out the firm and speed up decarbonisation efforts. Cannon-Brookes, co-founder of NASDAQ-listed Atlassian, has been a vocal advocate for renewable energy development in Australia and on March 6, wrote on Twitter that he, along with…


Ukraine Invasion Should Push Australia to Embrace Nuclear Energy: Former State Leader

The Russian invasion of Ukraine is a lesson to Australian leaders on the need for energy independence and should spark the development of its nuclear energy industry, according to Australian Senate candidate Campbell Newman. The former Queensland premier and now-candidate for the Liberal Democrats was also critical of tech billionaire and green activist Mike Cannon-Brookes’…


Energy Giant Rejects Takeover Bid From Tech Billionaire Hoping to Shutdown Coal Plants Faster

A tech investor’s multi-billion dollar takeover bid of one of Australia’s largest coal-fire energy companies has been flatly rejected by the board. Australian energy firm AGL confirmed that it had received a preliminary and non-binding offer to acquire all the shares in AGL at $7.5 (US$5.38) per share from investment firm Brookfield and tech billionaire Mike Cannon-Brookes—…