AGR ALERT: Avangrid Shareholders Unhappy With the $35.75 Buyout Price Should Contact Julie & Holleman LLP for Information Regarding Potential Legal Claims

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 [email protected].

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 [email protected] 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

SOURCE Julie & Holleman LLP