Westar Energy Inc., the biggest electric utility in Kansas, has drawn takeover interest from rival Ameren Corp. as well as an investor consortium that includes Borealis Infrastructure Management Inc. and the Canada Pension Plan Investment Board, according to people familiar with the matter.
Westar is working with Guggenheim Partners to field interest, the people said, asking not to be identified because the discussions aren’t public. Initial bids for the utility, which has a market value of about $7 billion, are due next week, they said.
No final decision has been made on the bids, and other companies may also consider making an offer, the people said.
Representatives for Ameren, Borealis, Canada Pension, Guggenheim and Westar declined to comment.
Read more: Bloomberg