EVgo Shares Surge on Take-Private Bid from LS Power

The proposed deal values the remaining shares at $2 apiece in an all-cash transaction. LS Power currently controls approximately 56% of the company’s combined voting power, positioning it as the dominant influence in the potential buyout. In response to the filing, the EVgo board of directors has formed a special committee composed entirely of independent and disinterested members to evaluate the fairness and viability of the offer.

Investors reacted sharply to the news, pushing trading volume past 71 million shares. By the close of the regular session, the stock price reached $1.84, reflecting a 47% gain as the market digested the implications of a consolidated ownership structure. The company has not yet provided a timeline for the committee’s review process or indicated whether it intends to solicit alternative bids.