December 7, 2015
Southern Company, AGL Resources announce expiration of Hart-Scott-Rodino waiting period
ATLANTA, Dec. 7, 2015 - Southern Company (NYSE: SO) and AGL Resources (NYSE: GAS) today announced the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act ("HSR Act") has expired with regard to the companies' proposed merger. One of the conditions to the merger is that the waiting period under the HSR Act has expired.
In addition, another condition to the merger was satisfied when AGL Resources shareholders voted to approve the proposed merger on Nov. 19. The merger remains subject to certain other customary closing conditions, including state regulatory approvals. The transaction is still expected to close in the second half of 2016.
When completed, the combination of Southern Company and AGL Resources is expected to create the second-largest utility company in the U.S. by customer base, bringing together:
- Eleven regulated electric and natural gas distribution companies providing service to approximately 9 million customers;
- Operations of nearly 200,000 miles of electric transmission and distribution lines;
- More than 80,000 miles of gas pipelines; and
- Approximately 46,000 megawatts of electricity generating capacity.