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Southern/AGL merger settlement reached in New Jersey; closing expected in H2'16

Southern Co.and AGL Resources Inc.have reached an agreement with all parties in the companies' New Jersey mergerproceeding, putting the dealon track to close in the second half of 2016.

The merger is expected to close following New Jersey Boardof Public Utilities and Illinois Commerce Commission approval of thesettlements reached in those respective jurisdictions, according to a May 5news release.

The companies sought approval from the and regulators in October 2015.

In a separate release the same day, Southern said it expectsto raise about $900 million from an underwritten public offering of 18,300,000shares of its common stock and use a portion of the net proceeds to fund theAGL acquisition. The offering is expected to close May 11, subject to customaryclosing conditions.

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