AGL employed a classic delaying tactic on Monday by putting its own demerger plans on hold and launching a reverse offer to buy Alinta for A$2.7 billion, just three weeks after Alinta bought 19.9% of AGLÆs shares from willing institutional investors in an attempt to push AGLÆs management into merger talks.
Alinta was not given any warning of AGLÆs surprise tactic despite signing a confidentiality agreement on March 10 that was meant to herald the beginning of sit-down talks.
AlintaÆs...
