By Maria Armental

Alliant Energy Corp. (LNT) will replace AGL Resources Inc. (GAS) in the S&P 500 index after the close of trading on June 30, according to S&P Dow Jones Indices.

AGL Resources is merging with Southern Co. (SO) in a roughly $8 billion deal. The merger, which received final merger approval from New Jersey regulators on Wednesday, is slated to close by July 1.

With Madison, Wis.-based Alliant Energy moving to the S&P 500, Southwest Gas Corp. (SWX) will take its spot in the S&P MidCap 400 and Shutterstock Inc. (SSTK) will replace Southwest Gas in the S&P SmallCap 600.

Shares of companies that join the S&P 500 often rise as portfolio managers who track the index buy shares.

Alliant Energy's stock rose 1.2% to $40.28 in after-hours trading while Southwest Gas edged up 1% to $77.41 and Shutterstock rose 4% to $44.35.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

June 29, 2016 18:30 ET (22:30 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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