APG takeover unconditional: AGL

Energy giant further lifts stake, nearing compulsory takeover threshold.

AGL Energy (AGK) has declared its off-market takeover bid for Australian Power & Gas (APK) unconditional and further increased its stake in the takeover target for the second time this week, edging closer to the compulsory acquisition threshold of 90%.

In a statement the Australian Securities Exchange, the energy giant said its offer of 52 cents per share was free of conditions and encouraged APG shareholders to accept its proposal.

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