EVgo Acknowledges Receipt of Take Private Proposal, Shares Rise 71%
By Stephen Nakrosis
Electric vehicle charging company EVgo said its board has received an unsolicited and non-binding proposal to take the company private from LS Power Equity Advisors and some of its affiliates.
Under the terms of the proposed deal, the group would acquire all outstanding shares of EVgo's Class A common stock not currently owned by LS Power for $2 per share in cash. EVgo added LS Power currently holds about 56% of the combined voting power of EVgo's outstanding common stock.
EVgo said its board established a committee, made up of independent and disinterested directors, to review and evaluate the proposal.
Just before the close of the day's regular session, EVgo shares were trading 47% higher, at $1.84. Volume has topped 71 million shares.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
November 02, 2026 16:25 ET (21:25 GMT)
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