An investigation on behalf of investors of AGL Resources Inc. (NYSE:GAS) in connection with the proposed takeover was announced and NYSE:GAS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/15/2015 -- An investigation for shareholders in shares of AGL Resources Inc. was announced concerning whether the takeover of AGL Resources Inc. by Southern Company for $66 per share is unfair.
On August 24, 2015, Southern Company and AGL Resources Inc. (NYSE:GAS) announced that the boards of directors of both companies have approved a definitive merger agreement.
Investors who purchased shares of AGL Resources Inc. (NYSE:GAS) and currently hold any of those NYSE:GAS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of AGL Resources Inc. breached their fiduciary duties owed to NYSE:GAS investors in connection with the proposed acquisition.
Under the terms of the agreement, AGL Resources' shareholders will be entitled to receive $66 in cash for each share of AGL Resources common stock.
However, the investigation concerns whether the offer is unfair to AGL Resources Inc. (NYSE:GAS stockholders. More specifically, the investigation concerns whether the AGL Resources Inc. (NYSE:GAS Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
AGL Resources Inc. reported that its annual Total Revenue rose from over $2.33 billion in 2011 to over $5.38 billion in 2014 and that its respective Net Income increased from $172.00 million to $482.00 million. Shares of AGL Resources Inc. (NYSE:GAS) grew from $36.94 per share in June 2012 to as high as $57.51 per share in January 2015.
On September 11, 2015, NYSE:GAS shares closed at $61.00 per share.
Those who are current investors in NYSE:GAS shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com