UGI Draws KKR Interest Amid Utility Deal Boom – Merger Arbitrage Mondays

UGI Corporation (UGI): $37.59

Market Cap: $8.06 B

Offer Value: $16.17 B

This week, instead of discussing a recently announced merger, we’d like to focus on a pre-deal situation, or “Deals in the Works”, as we like to call them.

Natural-gas and electricity distributor UGI Corp. recently received a roughly $16.17 billion takeover offer from private-equity ​firm KKR (KKR), according to a report by The Wall Street Journal. The private-equity firm offered $42.50 per share to buy UGI, offering roughly a 21.12% premium above the stock’s close before the rumor was announced.

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