05.09.2006 20:37:00
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Southern Company Responds to Mini-Tender Offer by TRC Capital
ATLANTA, Sept. 5 /PRNewswire-FirstCall/ -- Southern Company today announced that it has received a copy of an unsolicited "mini-tender" offer statement dated Aug. 29, 2006, pursuant to which TRC Capital Corporation, a private Canadian investment company, has offered to purchase from Southern Company stockholders up to 3 million shares, or less than one percent, of Southern Company's outstanding common stock.
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Southern Company does not recommend or endorse this offer and is not affiliated in any way with TRC, the offer or the offer documentation.
Southern Company is one of many companies that TRC has targeted for a "mini-tender." According to the Securities and Exchange Commission (SEC), "mini-tender" offers generally are structured to result in ownership of less than 5 percent of a company's stock to avoid certain disclosure and procedural requirements that would otherwise apply under the rules of the SEC. The SEC has issued an investor alert regarding "mini-tender" offers on its website at http://www.sec.gov/investor/pubs/minitend.htm.
Stockholders are urged to consult with their own brokers or financial advisors, to give careful consideration before selling their shares under the terms of the TRC offer and to review the SEC's regulatory concerns about mini- tender offers.
About Southern Company
With 4.3 million customers and more than 41,000 megawatts of generating capacity, Atlanta-based Southern Company is the premier energy company serving the Southeast, one of America's fastest-growing regions. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are significantly below the national average. Southern Company has received the highest ranking in customer satisfaction among U.S. electric service providers for seven consecutive years by the American Customer Satisfaction Index (ACSI). Visit our Web site at http://www.southerncompany.com/.
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