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Stock Market & Financial Investment News

News Breaks
April 7, 2014
07:03 EDTLG, EGNEnergen to sell natural gas utility to Laclede Group for $1.6B
Energen Corporation (EGN) announced that it has signed a definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corporation, to The Laclede Group (LG). The value of the transaction is $1.6B, subject to customary closing adjustments, and is comprised of $1.28B in cash and approximately $320M of debt. Energenís after-tax proceeds are estimated to be $1.1B, after consideration of accelerated intangible drilling costs. Energen plans to use cash proceeds from the transaction to immediately reduce short-term indebtedness, thereby enhancing its financial capacity to potentially accelerate the pace of drilling and development of its Permian Basin assets in 2015 and beyond.
News For EGN;LG From The Last 14 Days
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November 20, 2014
13:30 EDTLGLaclede raises quarterly dividend 4.5% to 46c from 44c per share
The dividend is payable on January 5, 2015, to shareholders of record on December 11, 2014.
November 17, 2014
07:16 EDTEGNTopeka to hold a bus tour
Houston Bus Tour travels throughout Houston, Texas on November 17-18.
November 10, 2014
07:14 EDTEGNHart Energy to hold a conference
Executive Oil Conference 2014 is being held in Midland, Texas on November 10-11.
November 7, 2014
10:00 EDTLGOn The Fly: Analyst Initiation Summary
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07:50 EDTLGLaclede initiated with an Equal Weight at Morgan Stanley
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