Southern Company To Acquire AGL Resources In $12 Bln Deal - Quick Facts

(RTTNews) - Southern Company (SO) and AGL Resources (GAS) announced that the boards of both companies have approved a definitive merger agreement. AGL will become a new wholly owned subsidiary of Southern Company in a transaction with an enterprise value of approximately $12 billion, including a total equity value of approximately $8 billion. AGL shareholders will be entitled to receive $66 in cash for each share of AGL common stock.

Southern Company expects the deal to be accretive to earnings per share in the first full year following the close of the transaction, and accelerate expected long-term EPS growth to 4-5 percent.

The companies expect to complete the merger in the second half of 2016.