Tue, Sep. 8, 6:42 PM
- Company officials say they expect TECO Coal will not be a part of TECO Energy (NYSE:TE) when Emera Energy's (OTCPK:EMRAF) $10.4B deal to buy the utility company closes in mid-2016.
- "Emera and TECO both agree that we need to exit the coal business, and our expectation is that's going to happen sooner rather than later," TE CEO John Ramil said during a conference call earlier today.
- TE shares jumped 25% in today's trade in reaction to the acquisition, announced after Friday's close.
Fri, Sep. 4, 5:14 PM
- TECO Energy (NYSE:TE) +24.1% AH after agreeing to be acquired by Canada-based energy company Emera (OTCPK:EMRAF) in a $10.4B deal, including $3.9B of debt.
- The $27.55/share price is a 30% premium over today's closing price and a 48% premium based on TE's unaffected closing stock price on July 15, the last trading day prior to news reports regarding the company's strategic review.
- The companies say the merger creates a North American energy leader with more than $20B of assets and more than 2.4M electric and gas customers.
Tue, Aug. 11, 10:20 AM
Sep. 29, 2014, 6:23 AM
Jul. 10, 2014, 8:41 AM
Oct. 16, 2013, 9:13 AM
Aug. 28, 2013, 9:58 AM
- Emera (EMRAF.PK) agrees to acquire three New England natural gas fired power generation plants from Capital Power for $541M, adding 1,050 MW to its generating capacity in the region.
- Nova Scotia-based Emera says adding gas generation to its existing generation portfolio of wind and hydro assets in the northeast U.S. fulfills a strategic objective.
- Capital Power says it’s also winding down its commodity and energy trading business outside Alberta before year-end.
Emera's core business is electricity. We are an energy and services company with $7.53 billion in assets and 2012 revenues of $2.1 billion. We invest in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Our strategic energy services... More
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