Great Plains and Westar Energy Deal Back on the Table, but Still on Life Support
We reaffirm our fair value estimates for Great Plains ($29 per share) and Westar Energy ($42 per share) after they asked Kansas regulators for more time to revise the merger terms that regulators rejected last month. We expect Kansas commissioners will grant the extension through May 31, but we still assume it is more likely than not that the merger will fail. We are reaffirming our moat and moat trend ratings.If the companies' counterproposal succeeds, we expect our deal-adjusted fair value es...
Great Plains Energy is a public utility holding company. The company's wholly owned direct subsidiaries with operations are as follows: Kansas City Power & Light Co., a regulated electric utility that provides electricity to customers primarily in Missouri and Kansas; and KCP&L Greater Missouri Operations Co., a regulated electric utility that provides electricity to customers in Missouri and regulated steam service to certain customers in St. Joseph, MO. The company also wholly owns GPE Transmission Holding Company, LLC (GPETHC), which owns 13.5% of Transource Energy, LLC, and focuses on developing electric transmission projects.
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