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AGL Energy Readies $2.1B Bid For Telecom In Renewed Talks

Law360 (June 11, 2019, 7:05 PM EDT) -- Australia's AGL Energy is showing renewed interest in buying telecommunications firm Vocus, disclosing Tuesday that it is kicking off due diligence on a potential AU$3.02 billion ($2.1 billion) offer after withdrawing an earlier proposal in May.

The decision by AGL Energy Ltd. to conduct due diligence comes after the Australian energy company on May 31 walked away from an earlier, confidential Vocus Group Ltd. offer when the two sides could not agree on terms for the due diligence process. It also arrives in the wake of EQT Infrastructure's abandoning of a separate Vocus bid this month.

AGL on Tuesday said it had...

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