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Southern prices $900M common offering

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Southern prices $900M common offering

Southern Co.has priced a $900 million publicoffering of its common shares that will help fund the company'sacquisition of

Underwriters are selling 18.3 million Southern shares fromtime to time, in one or more transactions at market prices prevailing at thetime of sale, according to a May 5 company statement. On the same date, thelast reported sale price of Southern's common stock was $50.62 per share.

The offering is expected to close May 11.

Southern also plans to use the net proceeds for othergeneral corporate purposes, which may include investment in subsidiaries orpartial payment of outstanding short-term indebtedness.

Citigroup and J.P. Morgan are acting as joint book-runningmanagers of the offering.