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Mike Cannon-Brookes and Brookfield Rejected For A Second Time By AGL

Tech Billionaire Mike Cannon-Brookes and partners Brookfield Asset Management turned away again by AGL.

Following tech billionaire Mike Cannon-Brookes' offer to takeover energy giant AGL, the company has rejected a second offer worth around $9 billion.

Their previous bid of around $8 billion saw AGL's share prices jump, but Cannon-Brookes and Brookfield are now expected to walk away from the takeover.

"The Consortium is withdrawing from the process to take AGL private and believes that the company's demerger proposal is not in the interest of shareholders, consumers or the planet," a source close to both parties said.

In a tweet, Mike Cannon-Brookes said: "The Brookfield-Grok consortium looking to take private and transform AGL is putting our pens down — with great sadness."