SJI - South Jersey Industries ticks higher amid filing report on planned sale

• South Jersey Industries ( NYSE: SJI ) gained 0.3% after a filing from the utility indicated an agreement with a New Jersey regulator to approve its sale to Infrastructure Investments Fund may be getting closer to being completed.
• A filing dated Tuesday where SJI asked the New Jersey Board of Public Utilities to rule at its meeting next Wednesday may indicate that a unanimous settlement has been reached, according to a CTFN report from earlier Wednesday. While the SJI request for the hearing may be a sign that a stipulation agreement was reached, the filing doesn't say that such an agreement has occurred.
• The update comes after the New Jersey utility regulator earlier this month said that it will vote on the sale at its next board meeting if a unanimous "stipulation" resolving all the issues in the matter is filed.
• A CTFN report last month that parties are said to be close to agreeing to a settlement with the New Jersey regulator.
• IIF agreed to acquire South Jersey Industries ( SJI ) for $36/share in cash in February.

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