New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 5, 2013
15:01 EDTGASAGL Resources raises annual dividend 2% to $1.88 per share
The Board of Directors of AGL Resources has approved an increase of 4c per share, or 2%, in the annual dividend rate on the company's common stock, to an indicated annual dividend of $1.88 per share. The new quarterly dividend rate of 47c per share is effective for the dividend payable March 1 to shareholders of record at the close of business on February 15.
News For GAS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 28, 2015
16:29 EDTGASStocks end volatile week higher as China whipsaws U.S. market
Subscribe for More Information
August 25, 2015
09:59 EDTGASOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: SunEdison (SUNE) downgraded to Neutral from Buy at UBS... Green Bancorp (GNBC) downgraded to Neutral from Buy at SunTrust... BOK Financial (BOKF) downgraded to Neutral from Buy at SunTrust... AGL Resources (GAS) downgraded to Hold from Buy at Argus... Coty (COTY) downgraded to Neutral at JPMorgan.
07:30 EDTGASAGL Resources downgraded to Hold from Buy at Argus
August 24, 2015
16:23 EDTGASOn The Fly: Top stock stories for Monday
Subscribe for More Information
12:17 EDTGASOn The Fly: Top stock stories at midday
Subscribe for More Information
11:50 EDTGASSouthern Company to host a news conference on AGL Resources acquisition
Subscribe for More Information
10:56 EDTGASSouthern Company says AGL shares were undervalued by markets
Subscribe for More Information
10:22 EDTGASSouthern Company sees selling $3B of stock to fund AGL Resources deal
Says AGL (GAS) acquisition better positions Southern Company (SO) to succeed in future with increasing gas prices. Says now is the right time for this transaction. Expects natural gas use in the U.S. will increase. Sees natural gas use to rise as much as 2.2 BCF per day by 2020. AGL Resources planning $5B in capital spending over the next five years. Southern Co. sees equity sales beginning later this year. Comments taken from companies' conference call discussing the transaction. In morning trading, Southern Company shares were down 2.88% to $44.48 and AGL Resources shares were up 27.14% to $60.85.
09:18 EDTGASOn The Fly: Pre-market Movers
Subscribe for More Information
07:46 EDTGASSouthern Company & AGL Resources to host joint conference call
Conference call to discuss merger agreement will be held on August 24 at 10 am. Webcast Link
07:41 EDTGASSouthern Company sees AGL Resources deal accretive to ongoing EPS in first year
Southern Company (SO) says expects to issue debt and equity as a result of the transaction to acquire AGL Resources (GAS), with equity issuances through 2019. Says deal will be accretive to ongoing EPS in first full year, with expected long-term EPS growth of 4%-5%. Sees opportunity to raise dividend growth rate, subject to board approval. Together, the companies will have over 1,500 bcf per year of combined natural gas consumption and throughput volume and approximately 9M regulated utility customers in nine states. Comments from slides that will be presented on the companies' conference call discussing the transaction.
07:33 EDTGASSouthern Company to acquire AGL Resources in $12B transaction=
Southern Company (SO) and AGL Resources (GAS) announced that the boards of directors of both companies have approved a definitive merger agreement to create America's leading U.S. electric and gas utility company. Pursuant to the agreement, AGL Resources will become a new wholly owned subsidiary of Southern Company in a transaction with an enterprise value of approximately $12B, including a total equity value of approximately $8B. For Southern Company, this transaction is anticipated to be accretive to earnings per share in the first full year following the close of the transaction, accelerate expected long-term EPS growth to 4%-5%, preserve its strong financial profile and further support investment in the company's diversified energy platform, and enhance the ability to increase the growth rate of its dividend, subject to board of directors' approval. 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. This represents a premium of 36.3% to the volume-weighted average stock price of AGL Resources over the last 20 trading days ended Aug. 21, 2015. After closing, AGL Resources will continue to maintain its own management team and board of directors, and, as is the case with Southern Company's other operating subsidiaries, AGL Resources will continue to maintain its own corporate headquarters, which for AGL Resources is in Atlanta. Customers will continue to be served by their current gas and electric utility companies. Until the transaction has received all necessary approvals and has closed, the companies will continue to operate as separate entities. Completion of the transaction is conditioned upon, among other things, the approval of the AGL Resources shareholders and certain state utility and other regulatory commissions. The transaction is also subject to the notification and clearance and reporting requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The companies expect to complete the transaction in the second half of 2016.
07:31 EDTGASSouthern Company to acquire AGL Resources in $12B transaction
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use