Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Avangrid, Inc ("AGR" or the "Company") (NYSE: AGR) to Iberdrola S.A. ("IBDRY "). Under the terms of the merger, Iberdrola will acquire the remaining 18.4% of the issued and outstanding shares of common stock of Avangrid that it does not currently own for $35.75 per share in an all-cash transaction. The $35.75 per share price represents a 11.4% premium over the closing price of Avangrid common stock on March 6, 2024, the last unaffected trading day prior to Avangrid’s announcement of receipt of Iberdrola’s unsolicited offer, and a 15.2% premium over the volume-weighted average price of Avangrid common stock over the 30 trading days leading up to the unaffected trading day.
The AGR The merger investigation concerns whether the Board of AGR has harmed stockholders by agreeing to enter into this transaction and whether all material facts have been properly disclosed to stockholders.
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