Gas Natural spikes late as WSJ says Algonquin Power is in takeover talks


Gas Natural (EGAS +6.7%) spiked into the close and is +4% AH after WSJ reports Algonquin Power & Utilities (OTCQB:AQUNF) has approached the natural gas distributor about a takeover three times this year.

Algonquin sent letters to EGAS's board on Jan. 3, March 5 and May 15 outlining possible takeovers at respective prices of $10, $12 and $13 per share, according to the report.

Algonquin acquired a ~4.9% stake in EGAS in April.

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