Initiating Coverage of Evergy
We are reaffirming our $30 per share fair value estimate for Great Plains Energy as we believe the announcement that Missouri Gov. Eric Greitens would resign is unlikely to derail the merger with Westar Energy. Last week, regulators in Missouri and Kansas approved the merger. Ten days are required before regulatory decisions are effective in Missouri, making the Missouri approval effective on Sunday, June 3. Thus, we expect the all-stock merger of equals, creating Evergy Inc., to close the week ...
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