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Stock Market & Financial Investment News

News Breaks
June 23, 2014
08:18 EDTCNLCleco confirms receipt of indications of interest
Cleco announced that it has recently received indications of interest from third parties with respect to a strategic transaction. Cleco has retained Goldman Sachs and Tudor, Pickering, Holt as its financial advisors, and Locke Lord as its legal advisor, to assist the board in reviewing and evaluating any proposals and comparing any such proposals to Cleco's standalone strategic plan. The independent members of Cleco's board have also retained Hunton & Williams as legal counsel. Consistent with the board's fiduciary duties, the company will work with its financial and legal advisors to consider and evaluate these indications of interest and other potential opportunities in comparison to the Company's long-term strategic plan. The company has not established a definitive timeline to complete this review and no decision has been reached at this time. There can be no assurance that the review being undertaken will result in a merger or business combination, or a path different from the company's current strategic plan. The company does not intend to make any further announcements regarding the review unless and until the board has approved a specific transaction or other course of action requiring disclosure.
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July 30, 2014
18:23 EDTCNLCleco being bid on by Iberdrola, WSJ reports
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17:30 EDTCNLCleco backs FY14 EPS view $2.65-$2.75, consensus $2.68
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17:29 EDTCNLCleco reports Q2 adjusted EPS 79c, consensus 63c
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15:48 EDTCNLCleco being bid on by Iberdrola, Dow Jones reports
Dow cites sources on Iberdrola (IBDRY) being named as a bidder for Cleco (CNL).

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