---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-141591"
form_type: "8-K"
ticker: null
cik: "0001634997"
company_name: "Avangrid, Inc."
filed_at: "2024-05-17T23:59:59+00:00"
generated_at: "2026-06-01T16:04:13.305143+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Iberdrola to acquire remaining 18.4% of Avangrid for $35.75/share in all-cash deal

## Summary
- Iberdrola to pay $35.75 per share for Avangrid stock it doesn't already own, representing an 11.4% premium over March 6 close.
- Transaction values the remaining 18.4% stake; expected to close in Q4 2024 subject to regulatory approvals (FERC, Maine PUC, NY PSC).
- Avangrid's Special Committee unanimously approved; Moelis & Co acted as financial advisor to the Special Committee.
- Avangrid will continue paying regular quarterly dividends up to $0.44 per share until closing.
- Shareholder approval requires three separate majorities: all shares, shares held by unaffiliated shareholders, and shares excluding Iberdrola and certain insiders.

## SEC filing metadata
- accession: 0001193125-24-141591
- form_type: 8-K
- cik: 0001634997
- company_name: Avangrid, Inc.
- filed_at: 2024-05-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1634997/000119312524141591/0001193125-24-141591-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1634997/000119312524141591/d807695d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-141591
- JSON: https://secwatch.observer/filing/0001193125-24-141591.json
- Plain text: https://secwatch.observer/filing/0001193125-24-141591.txt

## Key facts
- Material Agreements
  Avangrid, Inc. entered into Agreement and Plan of Merger with Iberdrola, S.A. and Arizona Merger Sub, Inc. valued at $35.75 per share (effective 2024-05-17).
  - Action: entry
  - Agreement: merger
  - Counterparty: Iberdrola, S.A. and Arizona Merger Sub, Inc.
  - Value: $35.75 per share
  - Effective: 2024-05-17
  source text: On May 17, 2024, Avangrid, Inc., a New York corporation (“Avangrid”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Iberdrola, S.A., a corporation organized under the laws of Spain (“Parent”), and Arizona Merger Sub, Inc., a New York corporation and wholly-owned subsidiary of Parent (“Merger Sub”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634997/000119312524141591/0001193125-24-141591-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.