Alinta and AGL end the week at loggerheads
With both sides now offering to merge with each other, Alinta contemplates a hostile takeover in AustraliaÆs wackiest M&A story.
The bid by Western Australian energy company Alinta to merge with its bigger Eastern coast rival AGL looks set to end in a hostile takeover following AGLÆs counter-bid earlier this week.
AGL employed a classic delaying tactic on Monday by putting its own demerger plans on hold and launching a reverse offer to buy Alinta for A$2.7 billion, just three weeks after Alinta bought 19.9% of AGLÆs shares from willing institutional investors in an attempt to push AGL...
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