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Kendall Law Group Investigates Nicor Inc. Acquisition for Shareholders

^{Published on 2010-12-07 09:05:19 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Nicor Inc. (NYSE: GAS) for shareholders in connection with the proposed acquisition by AGL Resources. The national securities firma™s investigation seeks to determine whether Nicor and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Nicor shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On December 7, 2010, the companies announced the definitive merger agreement under which Nicor would be acquired by AGL Resources, in a transaction valued at approximately $2.4 billion. Under the terms of the agreement, Nicor stockholders will receive $21.20 in cash and 0.8382 shares of AGL Resources common stock (NYSE: AGL) for each share of Nicor/GAS common stock held for a total value of $52.32, a 13% premium over Monday's closing price of $46.76 a share. Four Nicor directors will join AGL Resourcesa™ Board after the merger. The firm believes the transaction may be undervaluing the company.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.