By SPR Staff –
Southern Company announced this week its merger with AGL Resources, a move which will create the United State’s leading electric and gas utility company. The merger makes Southern Company the nation’s second largest utility company by customer base, with over 9 million customers across nine Southern states.
The transaction had an enterprise value of a whopping $12 billion, leading to AGL stockholders receiving $66 for each share of stock – a 36.3% premium to its volume-weighted average stock price over the past 20 trading days.
Another big move from Southern Company to meet the ever-growing energy demand in the Southeast.
Read the full press release below: