Sempra Energy to buy EnergySouth for $510 million

[MoneyGuy]

NEW YORK (MarketWatch) -- Sempra Energy said Monday it would pay $61.50 a share to buy EnergySouth Inc. The $510 million cash deal values the Mobile, Ala. natural gas service and pipeline firm at a premium of $11.34, or 23% over its closing price of $50.16 a share on Friday. San Diego-based Sempra Energy said it sees the deal adding to its earnings in 2009 and adding 30 cents a share to 2012 earnings. "This acquisition supports our natural gas strategy by expanding our Gulf Coast operations to serve key markets where gas demand outpaces the national average," said Donald E. Felsinger, chairman and chief executive officer of Sempra Energy.

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[Guru]

They must foresee some new drilling around the Alabama and North Florida coast in the coral reef areas. Good idea go move to natural or butane gas burning cars again. Never see any of those fill-up points at fueling stations. I guess it is because of the liabililty with pressures involved???