[February 26, 2015]

UIL HOLDINGS ALERT: Johnson & Weaver, LLP Investigates the Fairness of Price and Process in Proposed Sale of UIL Holdings Corporation to Iberdrola

Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of UIL Holdings Corporation (NYSE: UIL), a regulated utility, breached their fiduciary duties in connection with the proposed sale of the company to Spanish utility Iberdrola SA.

If you are a UIL shareholder and would like additional information concerning your legal rights, please contact Johnson & Weaver's lead analyst Jim Baker at [email protected] or 619-814-4471. If emailing, please include a phone number where you can be reached.

Additional Information:

UIL operates in the regulated utility businesses. The company operates in the Electric Distribution, Electric Transmission, and Gas Distribution segments. It is involved in the purchase, transmission, distribution, and sale of electricity for residential, commercial, and industrial purpses in Southwestern Connecticut.

On February 25, 2015, UIL and Iberdrola entered into an agreement whereby Iberdrola will acquire UIL. Under the terms of the agreement, Iberdrola will combine its U.S. unit with UIL and list the new company on a U.S. exchange. At closing, UIL shareholders to receive one share in the newly-listed U.S. Company for each UIL share plus a cash payment of $10.50. UIL shareholders will own 18.5% of the new Company. The proposed deal implies a total value of $52.75 per share. The value of the stock consideration is hypothetical based on the mid-point of the combined company's estimated 2016 and 2017 earnings per share valued at peer P/E multiples of 17.5x and 16.5x, respectively.

Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether UIL's board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for UIL's shares of common stock.

About Johnson & Weaver, LLP:

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.

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