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The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Nicor In

^{Published on 2010-12-08 13:20:51 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Nicor Inc. (aNicora or the aCompanya) (NYSE: GAS) for possible breaches of fiduciary duty and other violations of state law in connection with the potential sale of the Company to AGS Resources Inc. (aAGL Resourcesa) (NYSE: AGL). Under the terms of the transaction, Nicor shareholders will receive $21.20 in cash and 0.8382 shares of AGL Resources for each share they own for a total transaction value of approximately $3.1 billion. The transaction values Nicor stock at $53.00 based on the volume-weighted price for AGL Resources common stock for the 20 trading days ended December 1, 2010. The combined entity will have an enterprise value of $8.6 billion.

The investigation concerns whether the Nicor Board of Directors breached their fiduciary duties to Nicor stockholders by failing to adequately shop the Company before entering into this transaction and whether AGL Resources is underpaying for Nicor shares.

If you own common stock in Nicor and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/nicor-inc-gas.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.