KKR Launches $9B Takeover Bid for UGI, Sources Say
UGI is trading near its 52-week low of $31.62 (11% above the low) on light trading volume (0.1× avg).
Summary
KKR has made a $9 billion takeover bid for UGI, a natural gas and electricity distributor, according to sources cited by the WSJ. This is a new, unsolicited move targeting a utility-scale asset, distinct from KKR's recent DCC Energy and EDF Power Solutions deals. The bid size is substantial relative to UGI's market cap and would represent a major expansion of KKR's energy infrastructure portfolio. No formal agreement has been announced, and the deal could face regulatory scrutiny given UGI's regulated utility operations. UGI shares have jumped on the report of the takeover bid.
At the time of this announcement, UGI was trading at $35.21 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.6B. The 52-week trading range was $31.62 to $41.34. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.