Based on the events of the last 3-4 years and how TECO has treated shareholders do you really believe they will carve any value out for shareholders?
In my opinion they will perpetuate scraping shareholders for marginal capital until there's nothing left then they will rinse and repeat in the name of capital necessity.
Just history repeating itself. There is a reason TECO has drawn the ire of seasoned investors and former victims of Bull-Tard Management.