KKR & Co. reportedly issued an unsolicited $9 billion offer to acquire energy distributor UGI Corp. The non-binding proposal values UGI at $42.50 per share. This price represents a 21.1% premium over the August 17, 2026, closing price.
UGI shares surged more than 12% during trading on August 18 following the report. The bid surfaces as AI data centers drive record demand for reliable electricity and natural gas.
Neither KKR nor UGI have formally commented on the proposal. No guarantee exists that the parties will reach a definitive agreement or complete the transaction.