Southern Co. to Acquire N.C. Company in $431 Million Deal
Troutman Sanders was mentioned in a February 25 Atlanta Business Chronicle article (and others) about Southern Company planning to acquire power grid technology company PowerSecure International, Inc. for approximately $431 million. If the deal is approved, PowerSecure, which is based in North Carolina, will become a wholly-owned subsidiary of the Atlanta-based company. The board of directors of each company have approved the deal.
Under the deal’s terms, PowerSecure’s stockholders will be entitled to receive $18.75 in cash for each share of PowerSecure common stock in a transaction.
Atlanta partners Frank Schiller and Eric Koontz represented Southern Company in the deal.