WeissLaw LLP: TECO Energy, Inc. Acquisition By Emera Inc. May Not Be In The Best Interest Of TE Shareholders

NEW YORK, Sept. 10, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of TECO Energy, Inc. ("TE" or the "Company") by Emera Inc. ("Emera") is the subject of an investigation by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of TE for agreeing to sell the Company to Emera. On September 4, 2015, the Company announced it had reached a definitive agreement for Emera to acquire TE in a transaction valued at approximately $10.4 billion, inclusive of debt. Under the terms of the agreement, TE shareholders will receive $27.55 in cash for each TE share they own. 

WeissLaw is investigating whether TE's Board acted to maximize shareholder value prior to entering into the agreement. Notably, several analysts set a target price of $28.00 per share. 

Given these facts, WeissLaw is investigating whether TE's Board acted in the best interests of TE's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Emera. If you own TE shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin or Kelly Keenan by telephone at [phone] or by email at [e-mail]. 

The firm is also in the process of investigations on behalf of shareholders of Con-way Inc. (CNW), Meredith Corporation (MDP), Synergetics USA Inc. (SURG), and Blyth, Inc. (BTH). 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [e-mail] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.

Attorney Advertising.  Past results do not guarantee a similar outcome.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/weisslaw-llp-teco-energy-inc-acquisition-by-emera-inc-may-not-be-in-the-best-interest-of-te-shareholders-300141023.html

SOURCE WeissLaw LLP

Copyright 2015 PR Newswire