Sempra Energy to buy EnergySouth for $510M cash; EnergySouth up in pre-market
Gas and energy holding company EnergySouth Inc. (Nasdaq:ENSI) is up 22% in today’s pre-market trading after Sempra Energy (NYSE:SRE) agreed to buy the company for $510 million in cash. Sempra will pay $61.50 for each share of the Mobile, Ala.-based company. Sempra said it is expanding its natural gas storage and distribution sector. Sempra added that EnergySouth is expected to add about $0.30 to its earnings per share by 2012.
Ahead of the opening, shares of EnergySouth are at $60.97 at 9:09 a.m. ET, up $10.81 from Friday’s close. During the past year, shares have ranged from $42 to $63.46.
Ahead of the opening, shares of EnergySouth are at $60.97 at 9:09 a.m. ET, up $10.81 from Friday’s close. During the past year, shares have ranged from $42 to $63.46.
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