The Latest Breaking News from AGL Energy

The AGL Energy board's push to demerge the company with the 75 per cent approval of shareholders is facing a fresh hurdle after a billionaire bought up shares.

Good morning, early birds. The Reserve Bank is set to release the new interest rate today, and tech billionaire Mike Cannon-Brookes has become the largest shareholder of AGL Energy just weeks after his takeover bid was declined. It’s the news you need to know, with Emma Elsworthy.

Australian companies are being taken over like never before. On Saturday February 19 a consortium involving tech billionaire Mike Cannon-Brookes and Canadian asset manager Brookfield offered A$5 billion to buy AGL Energy.

AGL Energy has warned bill shock and community upheaval will follow a proposed departure from coal-fired electricity generation within eight years.

Billionaire Mike Cannon-Brookes still wants to buy AGL Energy, but the competition watchdog is worried about the consortium holding wires, poles and generators.

But AGL Energy rejected Atlassian co-founder Mike Cannon-Brookes' preliminary $8bn offer.

Australia's largest electricity generator, AGL Energy, has rejected a takeover bid from Australian tech billionaire Mike Cannon-Brookes and Canadian investment firm Brookfield

Billionaire co-founder of software company Atlassian, Mike Cannon-Brookes, says he will continue to work with the board of energy giant AGL to pursue a takeover that would help Australia have the "lowest-priced energy in the world".

Australia's biggest electricity company has rejected an $8 billion takeover bid that could have shut down its Latrobe Valley coal power station 15 years early.