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.
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