-
If you purchased shares of TECO Energy, Inc. (NYSE:TE) and currently hold any of those NYSE:TE shares, you have certain options and you should contact the Shareholders Foundation, Inc.
-
To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
September 11, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of TECO Energy, Inc. (NYSE:TE), was announced concerning whether the takeover of TECO Energy, Inc. by Emera Inc for $27.55 per share is unfair to NYSE:TE stockholders.
The investigation by a law firm concerns whether certain officers and directors of TECO Energy, Inc. breached their fiduciary duties owed to NYSE:TE investors in connection with the proposed acquisition.
On September 4, 2015, Emera Inc. (TSX: EMA) and TECO Energy, Inc. (NYSE:TE) announced an agreement for Emera to acquire TECO Energy. Under the terms of the all-cash deal, TECO Energy shareholders will receive US$27.55 per common share.
However, the investigation concerns whether the offer is unfair to NYSE:TE stockholders. More specifically, the investigation concerns whether the TECO Energy Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
TECO Energy, Inc. reported that its annual Total Revenue rose from over $2.35 billion in 2013 to over $2.56 billion in 2014.
