Regulators won’t reconsider Great Plains-Westar deal

The Kansas Corporation Commission won’t reconsider its previous decision to reject Great Plains Energy’s bid to acquire Westar Energy, the regulatory agency ruled Tuesday.

Great Plains, the parent company of Kansas City Power & Light, and Westar, the largest utility in Kansas, had requested a May 31 deadline to hammer out a plan to assuage concerns that caused the commission to deny a deal worth $12.2 billion.

Tuesday’s ruling encouraged both companies to continue working toward a revised deal and would welcome a new application for a merger.

The regulatory commission said the April 19 bid, which included $3.6 billion of Westar’s debt, would have been to much for Great Plains to take on.

KCP&L has stated its intentions to continue to work towards a new deal that adheres to legal standards.

Read more: Kansas City Star


Tags:, , , , , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more