TECO Energy Confirms Exploring Of Strategic Alternatives

(RTTNews) - Responding to media reports concerning a potential sale of the company, Electric and gas utility company TECO Energy Inc. (TE) confirmed that it is exploring strategic alternatives.

TECO Energy has retained Morgan Stanley & Co. LLC to advise the company in connection with exploring such strategic alternatives.

Given the preliminary nature of this exploration, neither the company nor any of its representatives will be providing any additional comments at this time. No assurance can be given that the company will determine to pursue a potential sale or enter into any definitive sale agreement, the company said.

TE closed Thursday trading at $21.48, up $2.90 or 15.61%. However, in after hours, the stock dropped $0.08 or 0.37%.