Altus Power gains as TPG to buy co in $2.2 bln deal

Altus Power

06/02/2025 17:25

(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

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))