At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a heavy decline. The benchmark index is currently down 0.7% to 7,059.6 points.
Here’s what is happening on the ASX 200 today:
AGL rejects second takeover offer
The AGL Energy Limited (ASX: AGL) share price is trading lower today. This follows news that the energy giant has rejected an improved takeover approach from the Brookfield Consortium. According to the release, the consortium has increased its offer by 10% from $7.50 per share to $8.25 per share. However, the AGL Board continues to believe that this undervalues the company and has rejected the approach.
Appen makes strategic investment
The Appen Ltd (ASX: APX) share price is falling again on Monday despite the AI data services company announcing a strategic investment. Appen revealed that it has made a ~$3.6 million investment in Mindtech Global. Mindtech is the creator of Chameleon, which specialises in developing training data for AI computer vision models. The two parties have formed a commercial partnership agreement following the investment.
Zip co-founder buy shares
The co-founders of Zip Co Ltd (ASX: Z1P) appear to believe the sharp pullback by its shares this year could be a buying opportunity. According to a release, the company’s co-founders Larry Diamond and Peter Gray have purchased approximately $1.5 million of Zip shares. A number of non-executive Directors, including chair Diane Smith-Gander, also purchased Zip shares at the end of last week.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Monday has been the Woodside Petroleum Limited (ASX: WPL) share price with an 8% gain. This follows another strong rise in oil prices. The worst performer has been the Unibail-Rodamco-Westfield (ASX: URW) share price with a 7% decline. The shopping centre operator’s shares have come under pressure amid news that they will be dumped from the ASX 200 later this month.
The post ASX 200 (ASX:XJO) midday update: AGL rejects new takeover offer, Appen makes strategic investment appeared first on The Motley Fool Australia.
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More reading
- Here’s why ASX shares are set for a shakeup this month
- Why Woodside (ASX:WPL) shares are ‘best placed’ to benefit from the energy crisis: expert
- Payday? Here’s why the CSL share price is sliding this morning…
- These are the 10 most shorted ASX shares
- Appen (ASX:APX) share price fails to lift off on strategic investment
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Appen Ltd and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Appen Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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