DataRoom AM: Nexus bargain blues

Stubborn Nexus Energy shareholders may snub a lowball offer from Seven Group, while Wesfarmers has reportedly taken a shine to AGL Energy.

Nexus Energy is staring down administration as a small, but significant, core of shareholders vote against Seven Group’s bid for control of the company. The energy group’s board is pleading with stockholders to reconsider, but it’s unlikely pragmatism will rule over principle.

Elsewhere, Wesfarmers may have its eye on a local energy giant, the NSW government looks to shore up privatisation plans, ANZ Bank and National Australia Bank continue to assess options for offshore divestments and Hoyts joins the IPO queue.

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