Gas

The Laclede Group completes acquisition of Alabama Gas Corporation

The Laclede Group Inc. (NYSE: LG) has acquired Alabama Gas Corp. (Alagasco) from Energen Corp. (NYSE: EGN) effective August 31, 2014.

The purchase price includes $250 million of Alagasco long-term debt and cash consideration of nearly $1.35 billion.  

Laclede provides natural gas services to more than 1.5 million customers in Missouri and Alabama.

The acquisition expands follows the September 2013 purchase of natural gas utility Missouri Gas Energy.

Read more mergers and acquisitions news