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Emera, TECO reach merger settlement with NM intervenors

and on April 11 filed astipulation agreement with the New Mexico Public Regulation Commissionreflecting a settlement with intervening parties in the companies' plannedmerger.

Among otherstipulations, Emera agreed to honor TECO's commitments to investing in naturalgas system expansion to cover underserved communities and the Mexican borderand providing resources to support economic growth projects and programs, Emerasaid in a news release.

Thecompanies said they believe the unopposed settlement is in the public interest.

A hearingbefore the New Mexico Public Regulation Commission is expected to start May 23.The acquisition is still on track for closing in mid-2016, according to therelease.

Emera inSeptember 2015 announced a deal valued at $10.4 billion to acquire TECO, whichin 2014 boughtNew Mexico Gas Co.