Avangrid, Inc. (NYSE: AGR)
Julie & Holleman LLP, a law firm dedicated to representing shareholders, is investigating potential breaches of fiduciary duty related to the proposed acquisition of Avangrid, Inc. (NYSE: AGR) by its controlling shareholder, Spanish utility company Iberdrola, S.A.
For a free, no-risk consultation or more information, please, please fill out the form below, or contact partner Scott Holleman at (917) 325-3798 or scott@julieholleman.com. There is no cost or obligation to you.
Additional Information:
Avangrid is a leading sustainable energy company. Its largest shareholder is Iberdrola, which already owns approximately 80% of Avangrid. Iberdrola announced a bid to acquire the rest of Avangrid in March, and the parties reached a definitive agreement on May 17, 2024.
Under the terms of the merger agreement, Iberdrola will pay $35.75 to acquire the shares of Avangrid it does not already own. The deal is expected to close in the fourth quarter of 2024.
Julie & Holleman is concerned about potential breaches of fiduciary duty owed to shareholders by Iberdrola, as well as members of the company’s board of directors. In addition, according to Yahoo Finance, industry analysts have established a price target for Avangrid of $45 per share, far greater than the deal price.