Avangrid Contemplates Major Takeover Bid by Iberdrola

Avangrid (AGR) has shared an update.

Avangrid, Inc. is considering a significant acquisition proposal from Iberdrola, S.A., who seeks to purchase all outstanding shares not already under its control for $34.25 per share. While Iberdrola already owns the majority of Avangrid’s stock, the deal hinges on the approval of the independent committee and the majority of the minority shareholders. The outcome remains uncertain, as the Board emphasizes that this initial proposal is non-binding and subject to change or withdrawal.

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