Great Plains Energy and Westar Energy have officially started the clock on their new merger plan. The companies filed an official application for approval with the Kansas Corporation Commission on Friday and should make similar filings with Missouri and federal regulators in the next couple of days.
While the KCC is obligated to rule on the question within 300 days, company officials are hoping that their previous, unsuccessful bid at an acquisition will speed things along.
Kansas City-based Great Plains, the parent company of Kansas City Power & Light, and Topeka, Kansas-based Westar are asking for approval of a merger of equals that will create a new company with 1.6 million customers spread across Missouri and Kansas. The new deal, announced in early July, is formulated to address the numerous issues that caused the KCC to reject Great Plains’ bid to acquire Westar.
The boards of Great Plains and Westar have approved the new merger plan. They’ll put the question before their shareholders in the next couple of months.
In a release, the companies said they expect to have the new deal approved in the first half of 2018.
Read more: Kansas City Business Journal