Deals
Southern Co. to Buy AGL Resources for $8 Billion in Cash
Southern Co. to Purchase AGL Resources in $12B Deal
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Southern Co., the third-largest U.S. utility owner, agreed to buy natural-gas distributor AGL Resources Inc. for $8 billion in cash to capitalize on growing demand for the heating and power-plant fuel.
AGL Resources’ shareholders will receive $66 for each share they own, the Atlanta-based companies said in a joint statement Monday. That represents a 38 percent premium to the Aug. 21 closing price.