NEW YORK, Aug. 24, 2015 /PRNewswire/ -- The fairness of the
proposed acquisition of AGL Resources, Inc. ("GAS" or the
"Company") by Southern Company ("SO") is the subject of an
investigation by WeissLaw LLP, a national class action, shareholder
rights law firm. The investigation focuses on possible
breaches of fiduciary duty and other violations of law by the Board
of Directors of GAS for agreeing to sell the Company to SO.
On August 24, 2015, the Company
announced it had reached a definitive agreement for SO to acquire
GAS in a transaction valued at approximately $12 billion.
Under the terms of the agreement, GAS shareholders will
receive $66.00 in cash for each GAS
share they own.
WeissLaw is investigating whether GAS's Board acted to maximize
shareholder value. Notably, at the time of the announcement,
SO's Chief Executive Officer Tom
Fanning said "[w]e really consider this to be a growth
play," as the deal is expected to be accretive to earnings per
share in the first full year following the close of the
transaction. Additionally, as electric utility companies like SO
have reported slower growth in sales resulting from an increase
demand in energy conservation, the demand for gas has risen and so
has the revenue of gas companies like GAS which has seen a 37%
increase in revenue since 2011.
Given these facts, WeissLaw is investigating whether GAS's Board
acted in the best interests of GAS's public shareholders by
actively shopping the Company to maximize shareholder value.
If you own GAS shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua Rubin
by telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP