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Southern Co. closes purchase of PowerSecure International for $425M

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Southern Co. closes purchase of PowerSecure International for $425M

PowerSecureInternational Inc. has become a subsidiary of upon completion of itsapproximately $425 million merger with the Atlanta-based company on May 9.

PowerSecure's common stock ceased trading on the NYSEimmediately prior to market open the same day. Under the , PowerSecure stockholdersreceived $18.75 in cash for each common share they owned, according to a newsrelease. The company will continue to be based inWake Forest, N.C.

The deal, which was announced in , will position the combinedcompany to advance distributed infrastructure development on a national level.

Jones Day Gibson Dunn & Crutcher LLP and TroutmanSanders LLP served as legal counsel to Southern Co.

J.P. Morgan Securities LLC acted as the exclusive financialadviser to PowerSecure, and Wachtell Lipton Rosen & Katz and Kegler BrownHill + Ritter served as legal counsel to PowerSecure.