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Laclede Group Inc Prices Public Offering Of Common Stock


Wednesday, 22 May 2013 07:14pm EDT 

Laclede Group Inc announced that it has priced a public offering of 8,700,000 shares of its common stock at $44.50 per share. In addition, the Company has granted the underwriters an option for a period of 30 days to purchase up to 1,305,000 additional shares of the Company's common stock. The Company intends to use the net proceeds from this offering to fund a portion of the cash consideration payable in connection with the pending acquisition of Missouri Gas Energy, a division of Southern Union and for general corporate purposes. Wells Fargo Securities, BofA Merrill Lynch, J.P. Morgan and Morgan Stanley are acting as book-running managers of the offering. 

Company Quote

48.31
-0.23 -0.47%
10:47am EDT