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BRIEF-Gas Natural signs merger agreement with First Reserve Energy Infrastructure for about $196 mln

Oct 10 Gas Natural Inc :

* Gas Natural Inc Signs merger agreement with First Reserve Energy Infrastructure

* Gas Natural Inc - First Reserve has agreed to acquire all of outstanding shares of gas natural common stock for $13.10 per share

* Deal for total enterprise value of approximately $196 million

* Gas Natural Inc - deal for for a total enterprise value of approximately $196 million

* Purchase price represents an approximate premium of 39% over Gas Natural's 52-week high

* Gas Natural Inc says company intends to continue paying a quarterly cash dividend of $0.075 per share pending approval of merger

* Gas Natural - under terms of agreement, first reserve has agreed to acquire all of outstanding shares of Gas Natural common stock for $13.10 per share

* Gas Natural - deal is structured as a merger of company with a newly-formed first reserve subsidiary, with gas natural continuing as surviving entity

* Gas Natural Inc - business plan is for gas natural to maintain its own leadership team

* Gas Natural Inc- company and First Reserve expect to complete transaction in second half of 2017

* Gas Natural -transaction is structured as a merger of company with a newly-formed first reserve unit , with gas natural continuing as surviving entity

* Gas Natural Inc says agreement followed unanimous approval by company's board of directors

* Gas Natural Inc - definitive merger agreement provides for a 42-day "go-shop" period until November 22, 2016

* Gas Natural-"go-shop" during which co, may solicit, receive, potentially enter negotiations with parties with alternative proposals to acquire co Source text for Eikon: Further company coverage:

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