BUZZ-Avangrid soars after Iberdrola proposal to acquire remaining stake

-0.51%

-1.07%

-1.69%

Delist

Dow Jones Industrial Average DJI	48458.05	-0.51%
S&P 500 index SPX	6827.41	-1.07%
NASDAQ IXIC	23195.17	-1.69%
Avangrid, Inc. AGR	36.02	Delist

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;))

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