Westar-Great Plains merger back in play but not as rich as the previous deal
We are raising our fair value estimate for Westar Energy to $46.50 per share from $42 per share and cutting our fair value estimate for Great Plains Energy to $27 per share from $29 per share after the two utilities announced a revised merger plan. We are reaffirming our moat and moat trend ratings for both companies. We believe regulators will approve the deal and it will close in the first half of 2018.The new stock-for-stock deal replaces Great Plains' cash-and-stock acquisition proposal in ...
Westar Energy is an electric utility in Kansas. As of Dec 31 2017, the company provided electric generation, transmission and distribution services to approximately 708,000 customers in Kansas. The company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson. Kansas Gas and Electric Company, the company's wholly owned subsidiary, provides these services in south-central and southeastern Kansas, including the city of Wichita. The company also supplies electric energy at wholesale to municipalities and electric cooperatives in Kansas, and has contracts for the sale or purchase of wholesale electricity with other utilities.
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