TECO Energy Inc. (TE, Financial)(less than 0.1%) (TE – $26.26 – NYSE), based out of 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 $6.5 billion. The merger is expected to close in mid-2016 and is subject to shareholder and regulatory approvals.
From Mario Gabelli (Trades, Portfolio)'s third quarter 2015 ABC Fund commentary.
