Spain's Iberdrola To Buy Out Renewables Unit
The company said in a statement that it would exchange the equivalent of 0.499 of its own shares for each Iberdrola Renovables share, valuing the subsidiary at €2.98 ($4.14) per share. That price is a 16.7 percent premium over the renewables unit's average share price over the last six months, Iberdrola said.
Iberdrola also plans to vote on the distribution of an extraordinary dividend, the...
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