AGL to split into two, NAB’s 86 400 acquisition receives ACCC approval

At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and more. The benchmark index is currently down 0.15% to 6,788.8 points.

Here’s what has been happening on the market today:

AGL to split into two

The AGL Energy Limited (ASX: AGL) share price is pushing higher after announcing plans to split its business into two. The “New AGL” business will be Australia’s largest multi-product energy retailer, whereas “PrimeCo” will be Australia’s largest electricity generator. Management believes the proposed separation will give each business the opportunity to execute their own…

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