Westar Energy, Great Plains Energy Shareholders OK Merger
Westar Energy, Inc. and Great Plains Energy Incorporated, the parent company of Kansas City Power & Light (KCP&L), today announced the companies’ shareholders have approved the proposals necessary for the merger between the two companies.
“We are excited about today’s approval from shareholders of both Great Plains Energy and Westar Energy,” said Terry Bassham, chairman, president and chief executive officer of Great Plains Energy and KCP&L. “This vote indicates that both companies’ shareholders believe in our combined ability to create a stronger regional energy provider, positioned to better serve all of our customers. This new combined company will ensure we keep ownership of our utility assets in our region to grow local economies.”
Westar Energy and Great Plains Energy announced a revised transaction in July 2017 after the Kansas Corporation Commission denied the companies’ original request to combine in April. This revised agreement involves no transaction debt, no exchange of cash, and is a stock-for-stock merger of equals, creating a company with a combined equity value of approximately $15 billion.
Related News
From Archive
- Inside Sempra’s 72-mile pipeline with 18 major trenchless crossings
- Trump vetoes bill to finish $1.3 billion Colorado water pipeline
- PHMSA warns of heat risks in aging plastic gas distribution pipelines following deadly Pennsylvania explosion
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- OSHA seeks $1.2 million fine after fatal trench collapse in Connecticut
- Worm-like robot burrows underground to cut power line installation costs
- First tunnel boring machines complete testing for Hudson Tunnel Project
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- Construction jobs stumble into 2026 after weak year
- NWPX grows water infrastructure portfolio with Colorado precast facility
Comments