The attempt to merge Kansas City-based Great Plains Energy Inc. (NYSE: GXP) and Topeka-based Westar Energy Inc. (NYSE: WR) suffered a huge setback Wednesday, with the Kansas Corporation Commission unanimously denying the application [PDF]. First announced in May, both companies' shareholders overwhelmingly approved the deal in September.
Wednesday, April 19, 2017
POWER PLAY DENIED: KCP&L AND WESTAR $12.2 BILLION MERGER SHUT DOWN!!!
A brief win for constantly increasing local rates . . . The commission voted on Wednesday that a proposed merger of Kansas City Power & Light and Westar Energy was not in the public’s best interest. Read more: