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Brief -- National Fuel Gas Co.

National Fuel Gas Co.(NFG) shareholders voted against a proposed resolution submitted by Gamco Asset Management Inc. for the company to participate more actively in “the rapidly consolidating natural gas local distribution sector.” Gamco, which owns more than 7% of NFG’s common stock, has tried unsuccessfully in the past to create more value in the company’s utility segment through a spin-off. It pushed this time for NFG to acquire another utility or pursue another “value-creating mechanism” like a tracking stock. NFG also operates other upstream, midstream and downstream segments.

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