TECO Energy Inc. (less than 0.1%) (TE – $26.65 – NYSE) (TE, Financial), headquartered in Tampa, Florida, is an energy related holding company with regulated electric and gas utilities in Florida and New Mexico. On September 4, 2015, Emera Inc. announced that it would acquire TECO for $27.55 cash per share in a merger worth $10.4 billion. The merger is expected to close in mid-2016, and is subject to shareholder and regulatory approvals.
From Mario Gabelli (Trades, Portfolio)'s ABC Fund Merger and Arbitrage shareholder letter for the fourth quarter 2015.
