Southern Co., AGL Resources Seek Merger Clearance
Troutman Sanders was mentioned in an October 19 M&A Navigator article and an October 27 FinancialWire article about Southern Company and AGL Resources requesting regulatory approval for their proposed merger.
If completed, the merger would create the second-largest utility company in the United States by customer base. AGL Resources will become a new wholly owned subsidiary of Southern Company in the transition with an enterprise value of approximately $12 billion, including a total equity value of approximately $8 billion. Under the terms of the agreement, AGL Resources’ shareholders will be entitled to receive $66 in cash for each share of AGL Resources common stock.
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.