Yahoo Finance Naturgy plummets on no Criteria-Taqa takeover agreement; What next?
Investing.com - It is the company that has fallen the most in the Ibex 35. After the market closed, CriteriaCaixa, the holding company that manages the business assets of the “la Caixa” Foundation, announced yesterday afternoon to the National Securities Market Commission (CNMV) that it has ended talks with the United Arab Emirates energy company Taqa. The goal was to reach a partnership agreement to stabilize Naturgy Energy Group's (BME:NTGY) shareholder base, but the agreement did not succeed.
Have you invested in Naturgy? Do you want to make the most of their corporate strategy announcements? Don’t hesitate, try InvestingPro! Subscribe HERE AND NOW and take advantage of nearly a 40% discount on your annual plan for a limited time!
"CriteriaCaixa will continue to explore alternatives to ensure Naturgy's industrial project and accelerate its growth, through options that provide stability to the company's shareholders, and allow CriteriaCaixa to maintain its position as a key Spanish partner in the company," the company stated in the release.
"Additionally, CriteriaCaixa reiterates its commitment as a long-term investor in Naturgy’s industrial project, of which it has been the main shareholder for decades. It reaffirms its intention to defend the interests of the energy company to keep it listed in Spain, ensure an industrial plan aligned with the energy transition, and maintain the security of energy supply to Spain," the statement added.
New options?
The financial press reports that the Australian fund IFM, which acquired a stake in Naturgy in 2021, might be interested in aligning with CriteriaCaixa for a potential offer.
Currently, IFM owns 15% of the Spanish company.
What should we do with the stock? According to the professional tool InvestingPro, all ProTips for Naturgy are positive.
The market value of Naturgy according to InvestingPro this Tuesday is EUR 23.64, and the risk level is low.
How can you continue to take advantage of market opportunities? Use the code INVESTINGPRO1 and get a 40% discount on your 1-year subscription. Less than what you pay for a Netflix (NASDAQ:NFLX) subscription! (And you’ll get more out of your investments). With this, you will get:
ProPicks: stock portfolios managed by a mix of artificial intelligence and human expertise, with proven performance.
ProTips: digestible information to simplify complex financial data into a few words.
Fair Value and Health Score: two synthetic indicators based on financial data that provide an immediate view of each stock's potential and risk.
Advanced stock screener: Search for the best stocks based on your expectations, considering hundreds of metrics and financial indicators.
Historical financial data for thousands of stocks: So that fundamental analysis professionals can look for all the details.
And many other services, not to mention those we plan to add soon!
Act fast and join the investment revolution! Get your OFFER HERE!
Related Articles
Naturgy plummets on no Criteria-Taqa takeover agreement; What next?
Academy Sports Shares Drop on Earnings Miss and Lower Guidance
Spotify planning new, more expensive subscription tier - Bloomberg News
