Utilities M&A » By The Online Investor Staff, updated Sat., Apr. 17, 7:20 AM
Recent mergers and acquisitions in the Utilities M&A category.
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Slide #21. The Laclede Group, Inc. — Alabama Gas Corporation
Acquirer:
The Laclede Group, Inc. (LG)
Acquiree:
Alabama Gas Corporation
Details:
The Laclede Group, Inc. (NYSE: LG) ("Laclede") today announced that it has entered into an agreement with Energen Corporation (NYSE:EGN) ("Energen") to acquire 100 percent of the equity of Alabama Gas Corporation ("Alagasco"). Alagasco, a subsidiary of Energen, is the largest natural gas utility in Alabama and serves more than 422,000 customers.
Laclede Group is a public utility holding company. Co. has two business segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas Company, which is a natural gas distribution utility in Missouri; and Alabama Gas Corporation, which is a public utility in central and north Alabama. The Gas Marketing segment includes Laclede Energy Resources, Inc., which is engaged in the marketing of natural gas and related activities on a non-regulated basis. Co. is also engaged in compression of natural gas, oil production, real estate development, risk management, and financial investments in other enterprises, among other activities.
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