Energysouth (MM) (NASDAQ:ENSI)
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From Jan 2020 to Jan 2025
EnergySouth, Inc. (NASDAQ: ENSI) today announced approval of the
acquisition of the company by San Diego, California based Sempra Energy
(NYSE: SRE) by a majority of its shareholders.
Seventy-one percent or 5,769,675 of the company’s
8,115,435 outstanding shares voted in favor of the acquisition with two
percent or 157,436 shares voting against. Less than one percent (.4%) or
32,120 of the outstanding shares abstained. Of the outstanding shares
voted, ninety-seven percent voted in favor of the acquisition.
“We’re pleased to
see this transaction move smoothly toward completion,”
said Dean Liollio, President and Chief Executive Officer of EnergySouth,
Inc. EnergySouth and Sempra Energy jointly announced a definitive
agreement to the acquisition deal in July of 2008. “We’re
also very proud of the accomplishments of the EnergySouth family, its
employees and shareholders,” said Liollio.
Sempra Energy will acquire all EnergySouth operations including the
company’s principal businesses, EnergySouth
Midstream and Mobile Gas. All regulatory approvals needed to close the
acquisition deal have been received. Company officials said the
acquisition deal will be completed on October 1, 2008. EnergySouth
shareholders will receive $61.50 per share in cash upon completion of
the acquisition.
EnergySouth, Inc. is the parent company of a group of energy related
subsidiaries operating in the midstream and distribution segments of the
natural gas industry. The company’s primary
subsidiaries are EnergySouth Midstream and Mobile Gas Service.
EnergySouth Midstream is a midstream services company operating Bay Gas
Storage and Mississippi Hub. Mobile Gas Service Corporation is a natural
gas distribution company operating in Mobile and Baldwin counties in
southwest Alabama.