Page 4 - Florida Sentinel 9-11-15 Edition

Features
Canadian Company To Buy TECO
For $6.5 Billion
TECO POWER PLANT
EMERA
A Canadian utility com- pany, Emera Incorporated, has agreed to buy TECO Energy In- corporated for $6.5 billion. This move would double the Canadian company’s assets to $20 billion and significantly boost its footprint in this coun- try.
Emera, based in Halifax, Nova Scotia, is offering share- holders $27.55-a-share, a 48% premium to TECO’s closing stock price on July 15th, the day before TECO announced it was exploring strategic options, in- cluding a possible sale.
When you include the as- sumption of debt, Emera val- ued the deal at $10.4 billion.
Emera has electricity gener- ation, transmission and distri- bution operations, and also provides gas transmission and utility energy services. Its oper-
ations are in Nova Scotia, Maine and the Caribbean.
A spokesperson for Emera said the addition of TECO would give them a strong plat- form in growth markets and boost their earnings.
The transaction is expected to close by mid-2016 and is also subject to regulatory approvals.
Sylvia Vega, Public Rela- tions Specialist for TECO and Peoples Gas said, none of their customers will see immediate impacts from the deal.
“Rates will remain un- changed expect as allowed under Tampa Electric’s 2013 rate case settlement or as ap- proved by the Florida Public Service Commission.
“We are continuing with current projects and upgrades, including the Polk power sta- tion expansion project.”
School Board Changes Start Of New School Year
BY IRIS B. HOLTON Sentinel City Editor
When the new school term begins in the fall of 2016, there will be some changes. On Tues- day, during their regular board meeting, mem- bers of the board voted unanimously to begin the school year earlier.
Several years ago, after listening to parents complain that the August start date was too early. School Board members decided that the new school year could not begin prior to August 20.
Ms. Doretha Edgecomb, Vice Chairper- son of the Hillsborough County School Board said, “Over the years, I have heard from parents and students that the later start date presented a problem. The second semester didn’t end until the new year and students had to take mid-term finals when they came back from Winter Break.
“This will allow the students to take their fi- nals before Winter Break and begin the new se- mester when they return to school. I’m sure some people will have to make adjustments be- cause it may interfere with vacations and family outings.”
Mrs. Edgecomb said the Board decides on the calendar to give parents a year to make their plans. She also said she requested feedback on the changes at the end of the 2016-2017 school year.
The calendar approved for the 2016-2017 is as follows:
Wednesday, August 10 --- first day of school
Friday, October 7 --- End of first grading period
Monday, November 21 through Fri- day, November 25 --- Fall Break
Friday, December 16 --- end of second grading period
Monday, December 19 through Fri- day, December 30 --- Winter Break
Tuesday, January 3 --- Students return to school
Friday, March 10 --- End of third grading period
Monday, March 13 through Friday, March 17 --- Spring Break
Friday, May 26 --- Last day of school, end of fourth grading period.
In other action, the School Board unani- mously approved the budget of $2.8 billion.
DORETHA EDGECOMB Vice Chairperson, Hillsborough County School Board
PAGE 4-A FLORIDA SENTINEL BULLETIN PUBLISHED EVERY TUESDAY AND FRIDAY FRIDAY, SEPTEMBER 11, 2015