Core Insights - Kuehn Law, PLLC is investigating potential claims related to proposed mergers involving several companies, focusing on whether the boards acted to maximize shareholder value and disclosed material information [1][2]. Group 1: Proposed Mergers - Calliditas Therapeutics AB is set to be acquired by Asahi Kasei Corporation for SEK 0.04 in cash per ADS [2]. - Akili, Inc. will be acquired by Virtual Therapeutics for $0.4340 per share of common stock in cash [2]. - Avangrid, Inc. has a definitive merger agreement with Iberdrola, S.A. for $35.75 per share [2]. - Strong Global Entertainment, Inc. will merge with Fundamental Global, Inc., with shareholders receiving 1.5 common shares of Fundamental Global for each share of Strong Global [2]. Group 2: Shareholder Engagement - Kuehn Law emphasizes the importance of shareholder participation in maintaining the integrity and fairness of financial markets [3]. - Shareholders are encouraged to contact Kuehn Law for assistance, as the firm covers all case costs and does not charge its clients [4].

PHILADELPHIA, May 30, 2024 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating Avangrid, Inc. (NYSE: AGR) on behalf of the company's shareholders.On May 17, 2024, Avangrid announced that it had agreed to be acquired by Iberdrola, S.A. at a price of $35.75 per share in cash. Following the closing of the proposed transaction, Avangrid's public shareholders will be cashed out of their investment position and the company's shares will no longer be publicly traded. The investigation seeks to deter ...

Group 1: Acquisition Details - Avangrid Inc. has entered into a definitive agreement with Iberdrola S.A. for Iberdrola to acquire the remaining 18.4% of Avangrid's common stock at $35.75 per share in an all-cash transaction [1] - The revised offer represents an increase of $1.50 per share from Iberdrola's previous non-binding offer of $34.25 made in March 2024 [1] - The transaction is expected to close in the fourth quarter of 2024, pending approval from shareholders and regulatory authorities [1] Group 2: Clean Energy Initiatives - Avangrid aims to achieve Scope 1 and Scope 2 carbon neutrality by 2035 and plans to reduce Scope 1 greenhouse gas emissions by 35% by 2025 from a 2015 baseline [2] - The company has partnered with Navajo Tribal Utility Authority to explore developing up to 1 gigawatt of renewable energy generation, including solar, wind, hydrogen, and battery storage [2] - Avangrid is working on the Vineyard Wind 1 offshore wind project, which will generate 806 megawatts of clean energy, enough to power 400,000 homes and businesses [2] Group 3: Industry Transition - The U.S. electric power sector is transitioning towards cleaner energy sources, with renewable energy's share of electricity generation expected to rise from 23% in 2023 to 25% by 2025 [3] - The Inflation Reduction Act is anticipated to support utilities in their transition to clean energy [3] - Other utilities like Duke Energy, DTE Energy, and Alliant Energy are also making strides in reducing carbon emissions and investing in clean energy projects [4] Group 4: Price Performance - Over the past six months, Avangrid's shares have increased by 15%, outperforming the industry's growth of 9.1% [5]

PHILADELPHIA, May 20, 2024 /PRNewswire/ -- Shareholder protection law firm Kaskela Law LLC announces that it is investigating Avangrid, Inc. (NYSE: AGR) on behalf of the company's shareholders.On May 17, 2024, Avangrid announced that it had agreed to be acquired by Iberdrola, S.A. at a price of $35.75 per share in cash. Following the closing of the proposed transaction, Avangrid's public shareholders will be cashed out of their investment position and the company's shares will no longer be publicly traded.  ...

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 ...

Group 1 - Monteverde & Associates PC is investigating Avangrid, Inc. regarding its proposed merger with Iberdrola, S.A. [1] - Under the merger agreement, Avangrid shareholders will receive $35.75 per share in cash [1] - Monteverde & Associates PC has a successful track record in recovering money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report [1] Group 2 - The firm is headquartered in the Empire State Building, New York City [1] - Monteverde & Associates PC is a national class action securities firm with experience in trial and appellate courts, including the U.S. Supreme Court [1]

Core Viewpoint - Ademi LLP is investigating Avangrid for potential breaches of fiduciary duty and legal violations related to its transaction with Iberdrola, which involves the acquisition of Avangrid's remaining shares [1][2] Group 1: Transaction Details - Iberdrola plans to acquire the remaining 18.4% of Avangrid's common stock for $35.75 per share in an all-cash transaction [1] - The transaction agreement includes provisions that significantly limit competing offers for Avangrid, imposing penalties if Avangrid accepts a competing bid [1] Group 2: Board Conduct Investigation - The investigation focuses on whether Avangrid's board of directors is fulfilling their fiduciary duties to all shareholders [2] - Shareholders of Avangrid are encouraged to seek additional information regarding the investigation [2]

WILMINGTON, Del., May 17, 2024 (GLOBE NEWSWIRE) -- 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 ...

Pornpimone Audkamkong/iStock via Getty Images Foreword This article is based on 100 top sustainable companies based on Calvert Research and Management's annual review of more than 230 Environmental, Social and Governance [ESG] performance indicators, such as workplace diversity, data security, and greenhouse-gas emissions, as reported in the February 26, 2024 edition of Barron's weekly. How Barron's determined their list To build Barron's seventh annual ranking of the most sustainable companies, Calvert Re ...

Financial Performance - Operating revenues decreased by $49 million from $2,466 million for the three months ended March 31, 2023, to $2,417 million for the three months ended March 31, 2024[247]. - Net income attributable to Avangrid increased by $106 million from $245 million for the three months ended March 31, 2023, to $351 million for the three months ended March 31, 2024[249]. - Adjusted net income increased by $93 million from $248 million for the three months ended March 31, 2023, to $341 million for the three months ended March 31, 2024[250]. - UI's net income attributable to Avangrid, Inc. for the three months ended March 31, 2024, was $351 million, compared to $245 million for the same period in 2023[282]. - The total operating expenses for the three months ended March 31, 2024, were $2,010 million, compared to $2,201 million for the same period in 2023[282]. - Interest expense, net of capitalization, was $125 million for the three months ended March 31, 2024, compared to $95 million for the same period in 2023[282]. - Operating revenues increased by $10 million from $390 million for the three months ended March 31, 2023, to $400 million for the three months ended March 31, 2024[285]. - Purchased power, natural gas, and fuel used increased by $253 million from $977 million for the three months ended March 31, 2023, to $1.230 billion for the three months ended March 31, 2024[286]. - Operations and maintenance expenses increased by $31 million from $761 million for the three months ended March 31, 2023, to $792 million for the three months ended March 31, 2024[288]. - Depreciation and amortization increased by $18 million from $280 million for the three months ended March 31, 2023, to $298 million for the three months ended March 31, 2024[290]. - Other income (expense) and equity earnings increased by $33 million from $27 million for the three months ended March 31, 2023, to $60 million for the three months ended March 31, 2024[291]. - Interest expense increased by $30 million from $95 million for the three months ended March 31, 2023, to $125 million for the three months ended March 31, 2024[293]. - Adjusted EBITDA for the three months ended March 31, 2024, was $691 million, compared to $549 million for the same period in 2023[301]. - Adjusted EBITDA with Tax Credits for the three months ended March 31, 2024, was $775 million, compared to $633 million for the same period in 2023[301]. - For the three months ended March 31, 2024, net income attributable to Avangrid was $351 million, an increase of 43% compared to $245 million in the same period of 2023[305]. - Adjusted net income for the same period was $341 million, up from $248 million year-over-year, reflecting a 37.5% increase[305]. - Earnings per share (EPS) for Q1 2024 was $0.91, compared to $0.63 in Q1 2023, representing a 44.4% increase[305]. - The company reported net cash provided by operating activities of $153 million for Q1 2024, down from $204 million in Q1 2023, a decrease of 25%[319]. - Net cash used in investing activities increased to $944 million in Q1 2024 from $819 million in Q1 2023, reflecting a 15.3% increase[321]. - Financing activities provided $852 million in cash for Q1 2024, compared to $618 million used in Q1 2023, indicating a significant shift in financing strategy[323]. - The liquidity position as of March 31, 2024, was $2,113 million, down from $3,084 million at the end of 2023, a decrease of 31.5%[309]. - The company expects to incur approximately $2.8 billion in capital expenditures through the remainder of 2024[317]. - As of March 31, 2024, Avangrid had $1,864 million of commercial paper outstanding, net of discounts[310]. - The Avangrid Credit Facility allows for maximum borrowings of up to $3,575 million, with no borrowings outstanding as of March 31, 2024[311]. Regulatory and Project Updates - A non-binding proposal from Iberdrola to acquire all outstanding shares not owned by Iberdrola or its affiliates for $34.25 per share is under review by the Unaffiliated Committee[244]. - The New England Clean Energy Connect project has estimated construction costs of approximately $1.5 billion and aims to add 1,200 MW of transmission capacity[254]. - The NECEC project has received various regulatory approvals, including a Presidential Permit from the DOE for construction and operation[262]. - The Maine Law Court ruled that NECEC had constructed substantial construction in good faith, allowing the project to continue without retroactive application of the Initiative[265]. - The NYPSC approved an estimated $4.4 billion in transmission upgrades to integrate 3,500 MW of clean energy capacity into the grid, with NYSEG and RG&E's share estimated at $2.2 billion[279]. Operational Insights - Avangrid Networks serves approximately 3.3 million customers in New York and New England, with 2.3 million electric utility customers and 1.0 million natural gas utility customers as of March 31, 2024[239][241]. - Renewables has a combined installed capacity of 9,478 MW as of March 31, 2024, including 8,045 MW of onshore wind capacity and 65 MW of offshore capacity[243]. - Approximately 78% of Renewables' capacity is contracted with Power Purchase Agreements (PPAs) for an average period of approximately 9 years[243]. - The company employs approximately 8,000 people and is recognized as one of the World's Most Ethical companies in 2024 for the sixth consecutive year[239]. Risk Factors and Strategic Focus - There are potential adverse effects on the company's financial condition due to market fluctuations and regulatory changes, including inflation and supply-chain interruptions[331]. - The company emphasizes the importance of maintaining a responsive sustainability program amidst changing regulations and environmental concerns[331]. - The ability to recover costs in a timely manner through regulatory mechanisms remains a critical focus for the company's utility operations[331]. - The company faces risks related to geopolitical instability, which could exacerbate existing risk factors affecting operations[331]. - The company's dividend policy is subject to the discretion of the board and may be limited by debt agreements and New York law[331]. - The company is focused on recruiting and retaining a highly qualified workforce in a competitive labor market[331]. - The cost and availability of capital for financing business operations remain uncertain, impacting future financial performance[331]. - The company acknowledges the potential impact of extraordinary external events, such as cyber breaches and natural disasters, on its operations[331]. Climate and Compliance - The SEC's new climate disclosure rule requires registrants to provide climate-related disclosures starting with annual reports for the year ending December 31, 2025[274]. - The company is monitoring the Department of Commerce's anti-circumvention petition regarding solar panels, with no material impact on operations or financial performance to date[276]. - There have been no material changes in market risk during the three months ended March 31, 2024, compared to the fiscal year ended December 31, 2023[333].