Large Firm Sophistication – Small Firm Values

Andre Springer

Avangrid, Inc.

AVANGRID MERGER INVESTIGATION (AGR) - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Avangrid, Inc.    

(Wilmington, DE) Andrews & Springer LLC, is investigating potential breach of fiduciary duty claims against the Board of Directors of Avangrid, Inc. (NYSE: AGR) (“Avangrid” or the “Company”) relating to the sale of the Company to Iberdrola, S.A. (“Iberdrola”), which owns and controls over 81% of Avangrid’s stock. The two parties have announced that they reached an agreement in principle pursuant to which Iberdrola will acquire Avangrid in a going private merger. As a result of the merger, Avangrid shareholders are only anticipated to receive only $35.75 per share in cash in exchange for each share of Avangrid.

Andrews & Springer’s investigation so far has discovered that the merger appears to have significant conflicts of interest, thus making the process and consideration unfair. Iberdrola controls over 81% of the vote and sits on both sides of the merger. The Company claims that shareholders will only receive a 11.4% premium for their shares, however, Avangrid’s stock price closed yesterday at $37.53, more than 4% more than the $35.75 deal consideration. The $35.75 deal consideration is also 12% less than the $41.00 per share price target set by Wells Fargo on May 1, 2024. The deal consideration is also less than the $38.00 per share price target set by Zacks research set on May 10, 2024. 

If you currently own shares of Avangrid and want to receive additional information and protect your investments free of charge, please fill out the form below or contact Craig J. Springer, Esq. at, or call toll free at 1-800-423-6013.


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