TECO Energy files to acquire natural gas company

TECO Energy (NYSE: TE) filed an application with the New Mexico Public Regulation Commission in order to acquire New Mexico Gas Co.

The application was filed jointly with New Mexico Gas Co. and its parent company, Continental Energy Systems LLC. The commission is expected to make a decision in early 2014. In May, TECO Energy entered into a definitive stock purchase agreement with Continental Energy Systems to acquire New Mexico Gas for $950 million. The deal is expected to close in early 2014, pending state and federal approvals.

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