AGL Energy has shown that if you can’t beat your competitors, you can always buy them out.

AGL Energy has announced it will buy out its industry rival for $100 million. In a very brief media release put out this morning, AGL Energy said it was looking to make a move on Australian Power and Gas, a fellow energy provider.

Australian Power and Gas have reportedly told shareholders it would be wise to accept AGL’s offer of 52 Australian cents per share.

The offer represents a 33 per cent premium on the last traded price in Australian Power and Gas, leading to a reasonable pay-out for investors. The sale values Australian power and Gas at A$158 million including debt.