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Five lawsuits seek to halt TECO sale

in Statewide/Top Headlines by

So far five lawsuits have been filed against TECO seeking to halt the company’s planned merger with Canadian company Emera Inc. The lawsuits argue the $10.4 billion price tag is a ripoff for shareholders. The agreed-upon price tag includes $3.9 billion in debt and represents about $27.55 per share. That’s higher than the $21.07 closing stock price the day the acquisition was announced on September 4. Even still, TECO announced the sale highlighting a different stock share number — $18.39…

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