New Mexico Regulators Approve TECO Energy, Emera Merger

TECO Energy Emera merger approved in NM

The New Mexico Public Regulation Commission (NMPRC) approved a final order authorizing Emera Inc.’s proposed $10.4 billion acquisition of TECO Energy (NYSE: TE) and the indirect acquisition of New Mexico Gas Co.

The companies filed an unopposed stipulation agreement with regulators April 13 stating that they believed the settlement is in the public interest.

The deal is expected to close on July 1. It has received approvals from the Federal Energy Regulatory Commission and TECO shareholders.

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