AGL under pressure to explain Vocus takeover

Original article by Lucas Baird, Simon Evans
The Australian Financial Review – Page: 15 & 22 : 12-Jun-19

Vocus Group has agreed to allow AGL Energy to commence due diligence after offering $4.85 per share for the telco. AGL investors have responded bearishly to the $3bn bid, with its share price falling 7.2 per cent to $19.40 on 11 June. Sentiment toward AGL was also affected by an earnings downgrade on 7 June, before the stock market closed for a long weekend. Justin Braitling of Watermark Funds Management and James Nevin of RBC Capital Markets have questioned whether Vocus is an appropriate target for AGL.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, VOCUS GROUP LIMITED – ASX VOC, WATERMARK FUNDS MANAGEMENT PTY LTD, RBC CAPITAL MARKETS, EQT INFRASTRUCTURE, M2 GROUP LIMITED

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