Shares of UGI rose sharply on Tuesday after The Wall Street Journal reported that private-equity firm KKR has made a roughly $9 billion takeover offer for the natural-gas and electricity distributor.
KKR has offered $42.50 a share for UGI, The Journal reports, citing people familiar with the matter.
Shares of King of Prussia, Pa.-based UGI were recently changing hands at $39.41, up 12%.
The KKR offer would represent a 21% premium to Monday's closing price of $35.09 for UGI.
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