UGI Corporation shares jumped more than 14% on Tuesday after a report by The Wall Street Journal indicated that KKR has made a takeover bid valuing the natural gas and electricity distributor at approximately $9 billion.
The proposed acquisition price of $42.50 per share represents a roughly 20% premium over UGI's prior close of about $35, according to trading data cited in the report. Shares of UGI were halted for a volatility pause at $37.20, up 6% from the prior session, shortly after the report circulated.
KKR's potential bid comes amid heightened interest in utility assets, though no formal offer or definitive agreement has been disclosed. UGI did not immediately respond to requests for comment. The company, which operates in regulated energy distribution, has not provided updated guidance or commentary regarding the reported approach.
