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Stock Market & Financial Investment News

News Breaks
April 7, 2014
08:42 EDTGASAGL Resources sells Tropical Shipping business to Saltchuk Resources
AGL Resources announced it has signed a definitive agreement to sell its Tropical Shipping business to a subsidiary of Saltchuk Resources, Inc. of Seattle, WA. After-tax cash proceeds and repatriated cash from the transaction are expected to be approximately $220M, subject to certain defined post-closing adjustments. As a result of the sale, AGL Resources expects to incur income tax expense of approximately $60M related to the repatriation of cash and investments held offshore and capital gains on the purchase price above tax basis. In addition, the company expects to record a $19M impairment loss related to goodwill assigned to Tropical Shipping in conjunction with AGL Resources' merger with Nicor, Inc. in December 2011. This impairment loss represents approximately one-third of the total goodwill assigned to the cargo shipping segment. On a combined basis, these factors are expected to result in reported income tax and impairment expense of approximately 66c per share. Of this amount, 42c is expected to be recorded in Q1, with the remainder expected to be recorded in Q2.
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February 11, 2016
08:34 EDTGASAGL Resources sees Southern Company merger closing in 2H16
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February 10, 2016
13:02 EDTGASAGL Resources increases annual dividend by 4% to $2.12
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