Wunderlich Securities Downgrades Gas Natural, Inc. (EGAS) to Sell

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Go back to Wunderlich Securities Downgrades Gas Natural, Inc. (EGAS) to Sell

Gas Natural (EGAS) to be Acquired by First Reserve for $13.10/Share

October 10, 2016 8:08 AM EDT

Gas Natural Inc. (NYSE: EGAS) today announced the signing of a definitive merger agreement with an energy infrastructure investment fund sponsored by First Reserve, a leading global private equity and infrastructure investment firm focused exclusively on energy.

Under the terms of the agreement, First Reserve has agreed to acquire all of the outstanding shares of Gas Natural common stock for $13.10 per share, for a total enterprise value of approximately $196 million. The purchase price represents an approximate premium of 39% over Gas Natural's 52-week high.

Gregory J. Osborne, Gas Natural's President and Chief Executive... More