With AGL flying the white flag for its once progressive renewables push. Could this be a sign that the green energy boom is nothing but hot air?
Never a company to be outdone, AGL Energy Limited [ASX:AGL] has announced it will go ahead with non-binding, indicative proposal to acquire Vocus Group Limited [ASX:VOC] — after earlier claims the companies were unable to come to terms. AGL’s share price is currently valued at $19.80, falling 5.3% since market open.
Shares of ANZ telco provider Vocus Group Ltd [ASX:VOC] have plummeted in the first few hours of today’s trading, dropping 78.5 cents by 11am. At the time of writing Vocus Share price is sitting at $3.79 apiece, down 17.14%
AGL Energy’s [ASX:AGL] share price has fallen a further 1.75% in trading today, despite better than expected profit results for the 2018 financial year.
AGL Energy [ASX:AGL] picked up 3.18% to AU$14.92 by 1.36pm today. The ASX was lower after majors such as CSL and Suncorp released poor results.