Avangrid Announced That The Unaffiliated Committee Of Its Board Of Directors Received A Non-binding Proposal From Iberdrola, S.A. On March 6, 2024 To Acquire All Common Shares Of Not Owned By Iberdrola, S.A. Or Its Affiliates For $34.25 In Cash Per Share
Portfolio Pulse from Benzinga Newsdesk
Avangrid's unaffiliated board committee received a non-binding proposal from Iberdrola, S.A. to acquire all Avangrid common shares not already owned by Iberdrola or its affiliates for $34.25 in cash per share on March 6, 2024.
March 07, 2024 | 11:40 am
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Avangrid received a buyout offer from its parent company, Iberdrola, S.A., for $34.25 per share for all shares not already owned by Iberdrola.
The buyout offer from Iberdrola, S.A. to acquire all common shares of Avangrid not already owned by Iberdrola or its affiliates at a price of $34.25 per share is likely to have a positive impact on Avangrid's stock price in the short term. This is because buyout offers typically lead to an increase in the stock price of the company being acquired, as the offer price usually represents a premium to the current market price.
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