TECO Energy, Inc. (NYSE:TE) electric utility company is up for sale
Online news service SparkSpread reported that the Tampa, FL-based utility company is up for sale Thursday afternoon.
In a statement TECO Energy confirmed that it is exploring strategic alternatives.
The company said, “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.”
About 11.7 million shares of TECO Energy were traded by 3:32 p.m. following the report, well above the company’s average trading volume of about 1.9 million shares a day.