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Incitec Pivot (ASX: IPL) has revealed it is yet again going ahead with plans to separate its fertiliser and explosives businesses, which would both be demerged and listed on the ASX.
After HESTA declared it would vote against the demerger on decarbonisation grounds, UK-based activist Snowcap launched an attack on corporate governance at AGL.
Industry super fund HESTA has joined Mike Cannon-Brookes in the ‘no’ camp, but it’s far from the biggest vote heading into the demerger scheme meeting.
CEO Graeme Hunt says AGL is “asking questions” to ensure shareholder interests are protected as he queries the tech mogul’s motives for seeking to block the demerger.
Mike Cannon-Brookes will step up a push to block the planned break-up of AGL this week, pointing to huge risks he says will destroy shareholder value.