Sempra Energy (SRE) To Acquire EnergySouth (ENSI) for $61.50/Share
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Sempra Energy (NYSE: SRE) and EnergySouth, Inc. (Nasdaq: ENSI) announced a definitive merger agreement for Sempra Energy to acquire EnergySouth for $510 million in cash. Shareholders of EnergySouth will receive $61.50 per share for their EnergySouth stock.
Shares of EnergySouth closed at $50.16 on Friday.
Central to the transaction will be Sempra Energy's acquisition of the assets of EnergySouth's subsidiary, EnergySouth Midstream, Inc., including a majority ownership in two large, high-cycle underground natural gas storage facilities that, when fully developed, will have capacity of 57 billion cubic feet (Bcf) of natural gas serving the nation's fastest-growing natural gas markets.
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