The Laclede Group (LG) said Monday it plans to commence a registered underwritten public offering of up to 8.7 million shares of its common stock. In addition, the company expects to grant the underwriters an option for a period of 30 days to purchase up to about 1.30 million additional shares of its common stock.
The company intends to use the net proceeds from the offering to fund a portion of the cash consideration payable in connection with the pending acquisition of Missouri Gas Energy, a division of Southern Union and for general corporate purposes.
Wells Fargo Securities, BofA Merrill Lynch, J.P. Morgan and Morgan Stanley are acting as book-running managers of the offering.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.