BUZZ-Altus Power gains as TPG to buy co in $2.2 bln deal
ReutersFeb 6, 2025 5:25 PM
Updates
Shares of solar firm Altus Power AMPS.N rise 27.8% to $4.90
Buyout firm TPG's TPG.O climate investment arm to acquire Altus Power for $2.2 billion in an all-cash transaction
AMPS says TPG will acquire company for $5.00 per share
Purchase price represents a 66% premium to AMPS's closing price on October 15, 2024, the last trading day before the company said it would review strategic alternatives
*J.P. Morgan upgrades AMPS to "Neutral" from "Underweight"
Transaction is expected to close in Q2
Including session's moves, stock up 20.3% YTD
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