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Stock Market & Financial Investment News

News Breaks
March 17, 2014
09:02 EDTCNLCleco transfers Coughlin Power Station to regulated utility
Cleco announced the transfer of Coughlin Power Station to its regulated utility, Cleco Power, from its unregulated subsidiary, Cleco Midstream. Cleco Power assumed ownership of the natural gas-fired unit Saturday, March 15. This transaction will add 775-megawatts of nameplate capacity to Cleco Power's regulated fleet. As part of the utility's generation units, the Coughlin facility is a key component of providing capacity, energy and services to Dixie Electric Membership Corporation, or DEMCO. This contract is to begin on April 1, and will grow the utility's total customer load by more than 20%. DEMCO serves the growing suburban Baton Rouge market and is one of the largest cooperatives in Louisiana.
News For CNL From The Last 14 Days
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February 27, 2015
16:41 EDTCNLCleco reports Q4 adjusted EPS 60c, consensus 48c
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16:39 EDTCNLCleco sees FY15 EPS $2.28-$2.38, consensus $2.51
16:38 EDTCNLCleco reports Q4 GAAP EPS 35c, consensus 48c
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February 26, 2015
12:07 EDTCNLCleco holders overwhelmingly support merger with N. American-led investor group
Cleco announced its shareholders approved the adoption of the previously announced merger agreement pursuant to which Cleco will be acquired by a North American investor group led by Macquarie Infrastructure and Real Assets and by British Columbia Investment Corporation. During a special meeting of shareholders, investors voted on merger- related proposals, which included the merger transaction and a non-binding advisory vote on merger compensation. The merger proposal passed with a vote of more than 94% of votes cast, which is equal to approximately 77% of all shares outstanding. The advisory merger compensation proposal passed with a vote of more than 82% of votes cast. The transaction is expected to close in the second half of the year.

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