AGL Loses Focus, Makes Non-Binding Bid for Vocus
While it makes sense for narrow-moat-rated AGL Energy to diversify away from electricity generation and retailing, where it is under constant government attack, we doubt using all its firepower buying underperforming telecommunications roll-up Vocus Group is a good idea. AGL made an indicative, non-binding AUD 4.85 per share takeover proposal and will spend the next month conducting exclusive due diligence before deciding whether to commit. Morningstar’s standalone fair value estimate for narrow...AGL Energy is a renewable energy company, serving customers throughout eastern Australia. Co. has four segments: Energy Market, which sells electricity, natural gas, and energy related products and services to consumer market, business and wholesale customers, servicing approximately 3.7 million customer accounts as of June 30 2016; Group Operations, a diverse power generation portfolio; New Energy, which focuses on taking new and distributed technologies to market in Australia, including AGL Solar, and Distributed Energy Services such as Active Stream, its digital meter installation and data provider business; and Investment, which include investments in various energy related business.
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