AGL Resources Inc. (GAS) is an Atlanta-based energy services holding company with operations in natural gas distribution, retail operations, wholesale services, midstream operations and cargo shipping. Let's take a look at this company and try to explain to investors the reasons this is an apparently appealing investment.
A Merged Entity
The company has focused on acquisitions that could create greater economies of scale. In December 2011, GAS purchased Nicor for $1.5 billion in stock and $980 million in cash, which has significantly expanded AGL Resources scope, scale and geographic reach, doubling the number of AGL's utility customers. "This acquisition almost doubles the size of our retail services business and strengthens our competitive position in this space," said John W. Somerhalder II, chairman, president and chief executive officer of AGL Resources.
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Main Segments
Its main reporting segments are Distribution Operations (84% of 2012 segment EBIT), Retail Energy Operations (18%), Midstream Operations (2%), Wholesale Services (
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