NEW
YORK, May 20, 2024 /PRNewswire/ -- 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, please visit
https://julieholleman.com/avangrid-inc/, or contact firm partner
Scott Holleman at
scott@julieholleman.com.
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.
If you are interested in learning about your legal rights,
please contact the firm by visiting here or contacting partner W.
Scott Holleman, Esq. by email at
scott@julieholleman.com or by telephone at (929) 415-1020.
Julie & Holleman is a boutique law firm that works
exclusively on shareholder matters, including securities
fraud, mergers and acquisitions, breaches of fiduciary
duty, and other corporate misconduct. The firm's attorneys litigate
in state and federal courts across the nation and have helped
secure hundreds of millions of dollars for aggrieved companies and
their shareholders. For more information about the firm and its
attorneys, please visit https://www.julieholleman.com/. Attorney
advertising. Prior results do not guarantee a similar outcome.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
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SOURCE Julie & Holleman LLP