Great Plains, Westar CEOs: Expect scale, efficiency after merger

Sharing a common border and partnering on power plants in the past provided a familiarity between the leaders for Great Plains Energy Inc. and Westar Energy Inc., giving them confidence in the efficiency and scale the planned $12.2 billion merger could create.

Great Plains intends to spend $8.6 billion and will assume $3.6 billion in Westar’s debt to acquire the Topeka-based company, creating an entity with 1.5 million customers in Kansas and Missouri and 13,000 megawatts of generation capacity.

Great Plains and Westar leaders already have a strong business relationship, partnering on the Wolf Creek Nuclear Generating Station as well as the La Cygne and Jeffrey power plants in Kansas. Terry Bassham, CEO of Kansas City-based Great Plains, said that familiarity should make the process of finding efficiency after the merger fairly smooth.

The deal still requires regulatory approval. Great Plains shareholders also must approve the financial terms, which involve 85 percent being paid in cash and 15 percent in stock. Pending approval, the deal is expected to close sometime in the spring of 2017.

Read more: Kansas City Business Journal


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