×

Subscribe Today

Get our free articles delivered directly to your email!

Continue reading

InsideArbitrage Potential Deal Alert: Avangrid (AGR) Announces Receipt of Take Private Proposal From Iberdrola

  • March 7, 2024

POTENTIAL DEAL DETAILS

StockAvangrid, Inc.SymbolAGR
Date Announced03/07/2024Source Press Release
TypeUnsolicited BidAcquiring Company/Person Iberdrola, S.A.
Date of Confirmation: 05/17/2024Price at Confirmation: $37.53
Potential Profit: 3.56%Annualized Profit: 18.30%

Avangrid (AGR), a leading sustainable energy company and a member of the group of companies controlled by Iberdrola, announced that the company received a non-binding proposal from Iberdrola on March 6, 2024, for $34.25 in cash per share.

Avangrid Investor Relations

Update(s):

May 17, 2024: According to Reuters, Spanish utility Iberdrola is nearing a deal to acquire the remaining 18.4% stake in its U.S. subsidiary Avangrid (AGR) that it does not already own for about $2.6 billion. Iberdrola is in advanced talks to pay $35.75 per share for the Avangrid shares.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.