PowerSecure Stockholders Approve Merger With Southern Co.

PowerSecure stockholders approve merger with Southern Co.

PowerSecure International (NYSE: POWR) stockholders voted to approve the proposed merger with Southern Co. (NYSE: SO). The vote is the last major approval necessary before the merger is completed.

The companies announced in February that Southern would acquire PowerSecure for $431 million. Both boards of directors approved the merger, which states PowerSecure’s stockholders are entitled to $18.75 per share of common stock. The U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

The deal is expected to close in the coming days.

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