Laclede Group, Inc. (LG) said Wednesday that it has priced a public offering of 8.7 million shares of its common stock at $44.50 per share.
The company has also granted the underwriters an option for a period of 30 days to purchase up to 1,305,000 additional shares of the Company's common stock.
The company plans 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.
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