Great Plains, Westar lobby for more time to close $12.2B deal
May 05, 2017
Electric Utilities | Topeka, KS | Corporate Acquisition
Great Plains Energy (NYSE: GXP), the parent company of regulated utility Kansas City Power & Light, and Westar Energy (NYSE: WR) have petitioned the Kansas Corporation Commission for a deadline extension to May 31 to reach a mutually agreeable deal that resolves the competition concerns identified by KCC. On April 19, KCC halted Great Plains' $12.2 billion cash-and-stock acquisition bid for Westar, which was originally announced on May 31, 2016. If completed, the deal will create a combined company serving approximately 950,000 Kansas customers.