California Regulators Clears Merger of Southern Co, AGL Resources
Troutman Sanders was mentioned in a March 23 Financial Wire article about Southern Company and AGL Resources having received unanimous regulatory approval of the companies’ proposed merger from the California Public Utilities Commission.
AGL Resources is the parent company of Central Valley Gas Storage, a natural gas storage facility located in the Sacramento River valley. Last summer, Southern Company and AGL announced their merger, which will create America’s second largest U.S. electric and gas utility company. Under the deal, AGL Resources 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.
Lawyers Kevin Greene, Frank Schiller, Brandon Marzo, Bob Edwards, Roger Reigner, Eric Koontz, Melissa Oellerich and Allison Will are representing Southern Company in the deal.