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 (888) 593-4771
or by email at stockinfo@weisslawllp.com.
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
stockinfo@weisslawllp.com 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.
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SOURCE WeissLaw LLP