Southern Co. to buy N.C. distributed energy technology company

Atlanta-based Southern Co. plans to buy the Wake Forest-based energy technology company PowerSecure Inc. for $431 million. The deal, which calls for buying PowerSecure (NYSE:POWR) for $18.75 per share, is contingent on the approval of PowerSecure shareholders and federal anti-trust approval. The deal is expected to close before June, says PowerSecure CEO Sidney Hinton. The price is close to an 80% premium over PowerSecure’s $10.43 closing on Tuesday, the day before the deal was announced. On…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/blog/energy/2016/02/southern-co-to-buy-n-c-distributed-energy.html