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Sempra Energy (NYSE: SRE) today announced the completion of its acquisition of Mobile, Ala.-based EnergySouth, Inc. for $510 million in cash. The acquisition was accomplished via a merger of a Sempra Energy subsidiary and EnergySouth.
EnergySouth, Inc. (NASDAQ: ENSI) today announced approval of the acquisition of the company by San Diego, California based Sempra Energy (NYSE: SRE) by a majority of its shareholders.
By Anonymous The Deal: Sempra Energy has entered into a definitive agreement to purchase EnergySouth Inc. for $61.50 per share in cash. The boards of directors of both companies have approved the transaction.
By Dean Calbreath, The San Diego Union-Tribune Jul. 29--San Diego's Sempra Energy strengthened its growing grip on the natural gas market yesterday with an agreement to spend nearly $735 million to acquire a gas storage and distribution company in Alabama.
Sempra Energy's announced purchase of EnergySouth, Inc. (ENSI, not rated by Fitch) has no ratings impact on SRE or its subsidiaries, according to Fitch Ratings. Fitch expects SRE to use new parent-level debt to finance the acquisition. The transaction is expected to close by year-end 2008.
Sempra Energy (NYSE: SRE) and EnergySouth, Inc. (NASDAQ: ENSI) today jointly announced a definitive merger agreement for Sempra Energy to acquire Mobile, Ala.-based EnergySouth for $510 million in cash. Shareholders of EnergySouth will receive $61.50 per share for their EnergySouth stock.
- Stoppage; cessation (of labor).
- A standing still or idling (of mills, factories, etc.).