Building a Strong America®

MDU Resources is Building a Strong America®

A strong infrastructure is the heart of our economy. It is the natural gas and electricity that power business, industry and our daily lives. It is the pipes and wires that connect our homes, factories, offices and stores to bring them to life. It is the transportation network of roads, highways and airports that keeps our economy moving. Infrastructure is our business, and we are building a strong America.

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Deal Overview

Buyer:
MDU Resources Group, Inc.
Actual Acquirer:
MDU Resources Group, Inc.
Target:
Intermountain Gas Company
Deal Type:
Utility
Agreement Date:
7/1/2008
Announcement Date:
7/1/2008
Announcement Deal Value ($ 000)
245,005
Short-term and Current Long-term Debt ($ 000)
NA
Cash and Cash Equivalents ($ 000)
NA
Current Investments ($ 000)
NA
Inventories ($ 000)
NA
Obligations under Capital Leases ($ 000)
NA
Postretirement Benefits ($ 000)
NA
Announced Transaction Value ($ 000)
327,000
Status:
Completed
Completion Date:
10/1/2008
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 245.0

Deal Terms
Description of Consideration

MDU Resources Group Inc. paid $327 million, including cash of approx. $245 million and assumption of approx. $82 million debt, to acquire Intermountain Gas Co. from Intermountain Industries Inc.

Accounting Method Purchase
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 170,000
Estimated Cost Savings (%) NA
Est. Restructuring Charges ($ 000) NA
Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes J.P. Morgan Securities Inc.
Seller Yes Citigroup Global Markets Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Thelen LLP
Seller Yes Willkie Farr & Gallagher LLP