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TECO: Form, Schedule Or Registration Statement No

The following excerpt is from the company's SEC filing.

Filing party:

Date Filed:

Talking Points for Performance Coaches

TECO Energy and Emera Shareholder Approval and Regulatory Review Progress

Background

On Sept. 4, 2015, TECO Energy entered into a definitive agreement with Emera Inc., a Canadian energy company, to purchase TECO Energy, including our regulated utility subsidiaries, in a $10.4 billion transaction. Closing is expected in mid-2016.

The combined companies will create a top 20 North American energy leader, with more than $20 billion in assets and more than 2.4 million electric and natural gas customers.

Upon closing, shareholders will receive $27.55 per share in cash, a 48 percent premium over our unaffected share price on July 15.

While TECO Energys ownership will change from several thousand shareholder owners to one Emera, TECO Energy, Tampa Electric and Peoples Gas will retain their names and continue to be headquartered in Tampa and New Mexico Gas Company (NMGC) will retain its name and remain headquartered in Albuquerque.

The TECO Energy companies and Emera will continue to operate separately until closing.

Emera leadership has stated that after closing they intend to continue to execute the companys five year plan to invest $3 billion in upgrades and modernization of our infrastructure with the added benefits of increased scale by combining with Emera as we address the challenges and opportunities in our industry.

Under the agreement, Emera has committed to protecting the benefits and wages of TECO team members for two years following the closing of the transaction and thereafter to maintain wages and benefits consistent with those for similarly situated Emera employees for at least 3 years.

Shareholder and Regulatory Approval Progress

The agreement with Emera requires TECO shareholder approval, review by the Federal Trade Commission and the U.S. Department of Justice (Hart-Scott-Rodino Act) and the Committee on Foreign Investment in the United States (CFIUS), as well as regulatory approval from the Federal Energy Regulatory Commission (FERC) and the New Mexico Public Regulation Commission (NMPRC).

Emera and TECO jointly filed for FERC approval on Oct. 5, 2015 and requested an order by March 1, 2016.

TECO filed the preliminary...


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