Mike Cannon-Brookes, CEO of Atlassian, attends the Allen and Co. Sun Valley annual media conference in Sun Valley, Idaho, U.S., July 11, 2019. REUTERS/Brendan McDermid/Files

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MELBOURNE, May 2 (Reuters) – Tech billionaire Mike Cannon-Brookes is seeking an 11.5% stake in AGL Energy (AGL.AX) nearly two months after Australia’s biggest power producer rejected a bid A$5.4 billion ($3.8 billion) takeover of its Grok Ventures and Brookfield Asset Management of Canada, according to a market statement from JPMorgan.

“Grok Ventures and its affiliates seek to acquire a combined physical and economic interest in up to 11.5% of the shares of AGL Energy Limited in a strategic derivative transaction,” the capital markets division said. own and derivatives of JPMorgan in the information release seen by Reuters. .

The statement said that if the transaction proceeds, Grok will announce its interest in AGL before markets open on Tuesday.

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The stake offering from Cannon-Brookes, co-founder of software company Atlassian Corp (TEAM.O), was first reported by the Australian Financial Review.

The planned stock purchase appears to be intended as a blocking stake ahead of a vote by AGL shareholders on a plan to spin off the company, rather than serve as a precursor to an attempted acquisition of the company, AGL said. said the Australian Financial Review.

AGL will ask shareholders to vote in June on a plan to split into an energy retailer, called AGL Australia, and a coal-fired power generation company, called Accel Energy.

A spokesperson for Grok declined to comment on Cannon-Brookes’ intentions.

($1 = 1.4174 Australian dollars)

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Reporting by Sonali Paul; Editing by Kim Coghill and Edwina Gibbs

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