ATLANTA, Nov. 19, 2015 /PRNewswire/ -- Shareholders of AGL
Resources (NYSE: GAS) today voted to approve the proposed merger
with Southern Company (NYSE: SO), announced on August 24, 2015. Additionally, AGL Resources
shareholders approved the proposed executive compensation that may
be paid or may become payable to the Company's named executive
officers in connection with or following the consummation of the
merger.
The merger remains subject to federal and state regulatory
approvals, and the transaction is expected to close in the second
half of 2016.
Cautionary Statements Regarding Forward-Looking
Information
This release contains forward-looking statements which are made
pursuant to safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include statements, among other things, concerning the expected
timing of the completion of the transaction. These forward-looking
statements are often characterized by the use of words such as
"expect," "anticipate," "plan," "believe," "may," "should," "will,"
"could," "continue" and the negative or plural of these words and
other comparable terminology. Although Southern Company and AGL
Resources believe that the expectations reflected in such
forward-looking statements are reasonable, such statements involve
risks and uncertainties and undue reliance should not be placed on
such statements. Certain material factors or assumptions are
applied in making forward-looking statements. Actual results may
differ materially from those expressed or implied in such
statements. Important factors that could cause actual results to
differ materially from these expectations include, among other
things, the following: the failure to receive, on a timely basis or
otherwise, the required approvals by government or regulatory
agencies (including the terms of such approvals); the possibility
that long-term financing for the transaction may not be put in
place prior to the closing; the risk that a condition to closing of
the merger or the committed financing may not be satisfied; the
possibility that the anticipated benefits from the transaction
cannot be fully realized or may take longer to realize than
expected; the possibility that costs related to the integration of
Southern Company and AGL Resources will be greater than expected;
the credit ratings of the combined company or its subsidiaries may
be different from what the parties expect; the ability to retain
and hire key personnel and maintain relationships with customers,
suppliers or other business partners; the diversion of management
time on transaction-related issues; the impact of legislative,
regulatory and competitive changes; and other risk factors relating
to the energy industry, as detailed from time to time in each of
Southern Company's and AGL Resources' reports filed with the
Securities and Exchange Commission. There can be no assurance that
the transaction will in fact be consummated.
Additional information about these factors and about the
material factors or assumptions underlying such forward-looking
statements may be found in the body of this release, as well as
under Item 1.A. in each of Southern Company's and AGL Resources'
Annual Reports on Form 10-K for the fiscal year ended December 31, 2014 and Item 1.A in each of
Southern Company's and AGL Resources' Quarterly Reports on Form
10-Q for the quarter ended September 30,
2015. The foregoing list of important factors that may
affect future results is not exhaustive. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. All subsequent written and oral
forward-looking statements concerning the transaction or other
matters attributable to Southern Company or AGL Resources or any
other person acting on their behalf are expressly qualified in
their entirety by the cautionary statements referenced above. The
forward-looking statements contained herein speak only as of the
date of this release. Neither Southern Company nor AGL Resources
undertakes any obligation to update or revise any forward-looking
statement, except as may be required by law.
About Southern Company
With more than 4.5 million customers and approximately 46,000
megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is
the premier energy company serving the Southeast through its
subsidiaries. A leading U.S. producer of clean, safe, reliable and
affordable electricity, Southern Company owns electric utilities in
four states and a growing competitive generation company, as well
as fiber optics and wireless communications. Southern Company
brands are known for excellent customer service, high reliability
and affordable prices that are below the national average. Through
an industry-leading commitment to innovation, Southern Company and
its subsidiaries are inventing America's energy future by
developing the full portfolio of energy resources, including
nuclear, 21st century coal, natural gas, renewables and
energy efficiency, and creating new products and services for the
benefit of customers. Southern Company has been named by the
U.S. Department of Defense and G.I.
Jobs magazine as a top military employer, listed by Black
Enterprise magazine as one of the 40 Best Companies for Diversity
and designated a 2014 Top Employer for Hispanics by Hispanic
Network. The company earned the 2014 National Award of Nuclear
Science and History from the National Atomic Museum Foundation for
its leadership and commitment to nuclear development, and is
continually ranked among the top utilities in Fortune's annual
World's Most Admired Electric and Gas Utility
rankings. Visit www.southerncompany.com.
About AGL Resources
AGL Resources (NYSE: GAS) is an Atlanta-based energy services holding company
with operations in natural gas distribution, retail operations,
wholesale services and midstream operations. AGL Resources serves
approximately 4.5 million utility customers through its regulated
distribution subsidiaries in seven states. The company also serves
more than one million retail customers through its SouthStar Energy
Services joint venture and Pivotal Home Solutions, which market
natural gas and related home services. Other non-utility businesses
include asset management for natural gas wholesale customers
through Sequent Energy Management and ownership and operation of
natural gas storage facilities. AGL Resources is a Fortune 500
company and a member of the S&P 500 Index. For more
information, visit www.aglresources.com.
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SOURCE Southern Company