Atlassian CEOs give Elon Musk mission-creep lesson

Genex Power

01/08/2022 03:59

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Antony Currie
    MELBOURNE, Aug 1 (Reuters Breakingviews) - The $53 bln
software company’s two bosses are using their own cash for
dealmaking side projects. They’re avoiding getting too
distracted from their day job by having experts mostly run the
show. It’s a useful example of how the Tesla chief can avoid a
repeat of his Twitter mess.
    
    Full view will be published shortly.
    Follow @AntonyMCurrie https://twitter.com/antonymcurrie on
Twitter
         
    CONTEXT NEWS 
      Australian renewable energy company Genex Power on Aug. 1
rejected a A$319 million ($223 million) takeover bid from a
consortium led Skip Capital, a private equity fund co-founded by
Atlassian co-Chief Executive Scott Farquhar and his wife Kim
Jackson. Genex said it was open to further negotiations with the
consortium.
    Skip Capital already owned almost 11% before the bid was
announced. Together with consortium member Stonepeak Capital, it
has since increased its stake to 19.99%.
    Mike Cannon-Brookes, Atlassian’s other co-CEO, earlier this
year launched an abortive bid with Brookfield Asset Management
to buy Australia’s largest carbon emitter, AGL Energy, for some
A$8 billion. After that failed, he led a successful campaign to
prevent the company’s planned breakup into an energy generator
and an energy retailer. 

 (Editing by Robyn Mak and Thomas Shum)
 ((For previous columns by the author, Reuters customers can
click on  CURRIE/ 
SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS https://bit.ly/BVsubscribe
 | antony.currie@thomsonreuters.com; Reuters Messaging:
antony.currie.thomsonreuters.com@reuters.net))