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Market Chatter: KKR Makes $9 Billion Takeover Offer for UGI

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KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 per share, or roughly $9 billion, The Wall Street Journal reported Tuesday, citing people familiar with the matter.

UGI shares closed on Monday at $35.09, giving the company a market value of about $7.5 billion, the report said. It is unknown whether UGI will be receptive to the offer, and there is no guarantee of a sale to KKR or any other buyer, the report said, citing the people.

KKR and UGI didn't immediately reply to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $107.64, Change: $-1.19, Percent Change: -1.09%

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