Five lawsuits seek to halt TECO sale
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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