In today’s briefing:
- Iberdrola/Avangrid: Almost All Conditions Met
Iberdrola/Avangrid: Almost All Conditions Met
- The deal has now got green light from the SEC, FERC, Maine Public Utilities Commission, and seal of approval from ISS and Glass Lewis.
- Pending are the approval of the New York Public Service Commission and shareholder approval (GM on September 26, which should just be a formality).
- Spread is 0.46%/3.48% (gross/annualised) based on the closing share price of September 18 and assuming both a prorated dividend of $0.1467 and settlement on November 8. Long and tender.
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