Avangrid Announces Receipt of “Take Private” Proposal From Iberdrola, S.A.
Iberdrola, S.A. owns approximately 81.6% of Avangrid’s issued and outstanding shares of common stock.
- Iberdrola, S.A. owns approximately 81.6% of Avangrid’s issued and outstanding shares of common stock.
- On March 6, 2024, the Avangrid Board met and determined that the Unaffiliated Committee will review, evaluate, negotiate, and approve or disapprove the proposal, advised by independent legal and financial advisers, as well as any other alternative proposals or other strategic alternatives that may be available to Avangrid.
- No decision has yet been made with respect to Avangrid’s response to the proposal or any alternatives thereto.
- Avangrid’s Board cautions that it has only received a proposal, which does not constitute an offer or proposal capable of acceptance and may be withdrawn at any time and in any manner.