BUZZ-Avangrid soars after Iberdrola proposal to acquire remaining stake

-0.20%

-0.64%

-1.15%

Delist

Dow Jones Industrial Average DJI	0.00	0.00%
S&P 500 index SPX	0.00	0.00%
NASDAQ IXIC	0.00	0.00%
Avangrid, Inc. AGR	0.00	0.00%

Updates

** Shares of renewable energy firm Avangrid AGR.N jump 12.3% to a seven-month high of $36.04

** Iberdrola SA IBE.MC launches bid to acquire the remaining 18.4% stake in AGR for about $2.49 billion

** Proposed deal purchase price is $34.25 per share in cash; representing a 6% premium to stock's last close

** IBE currently owns about 81.6% stake of AGR's issued and outstanding shares of common stock - filing

** Including session's gains, AGR stock has gained 10.9% YTD

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.