(Reuters) - Iberdrola said it would pay $28.50 per share in cash for
Energy East, an electricity and natural gas company in the
northeastern United States. The deal marks a 26-percent premium
over Energy East's closing stock price on Monday of $22.54 per
share on the New York Stock Exchange.
Iberdrola, which recently completed the $23 billion
acquisition of Scottish Power, said last week it viewed the
United States as one of the best opportunities for growth. It
cited the strong growth potential and favorable tax benefits
for wind power development.
Read more at Reuters.com Mergers News
Energy East, an electricity and natural gas company in the
northeastern United States. The deal marks a 26-percent premium
over Energy East's closing stock price on Monday of $22.54 per
share on the New York Stock Exchange.
Iberdrola, which recently completed the $23 billion
acquisition of Scottish Power, said last week it viewed the
United States as one of the best opportunities for growth. It
cited the strong growth potential and favorable tax benefits
for wind power development.
Read more at Reuters.com Mergers News
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