Iberdrola Reaches Agreement In Principle To Buy All Of Ordinary Shares Of Avangrid Not Already Owned; Acquisition For Price Of $35.75 Per Share, Representing Total Amount Of About $2.551B
Portfolio Pulse from Benzinga Newsdesk
Iberdrola has reached an agreement to acquire all remaining ordinary shares of Avangrid that it does not already own for $35.75 per share, totaling approximately $2.551 billion.
May 17, 2024 | 3:15 pm
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POSITIVE IMPACT
Iberdrola's acquisition of all remaining shares of Avangrid for $35.75 per share, totaling $2.551 billion, is likely to positively impact Avangrid's stock price in the short term.
The acquisition price of $35.75 per share represents a premium over the current market price, which is likely to drive Avangrid's stock price up in the short term as investors react to the news.
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