Great Plains Energy, Westar Energy announce amended agreement [Reuters]
GREAT PLAINS ENERGY (GXP)
Last great plains energy earnings: 5/2 05:09 pm
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Source: Reuters
Great Plains Energy, Westar Energy announce amended agreementJuly 10 (Reuters) - Westar Energy Inc ::Great Plains Energy and Westar Energy announce amended agreement, agree to a no-premium merger of equals to form leading electric utility.Westar Energy Inc -deal ?expected to be earnings accretive for both companies in first year?.Westar Energy Inc says upon closing, Ruelle will become non-executive chairman of new company board.Westar Energy Inc - Great Plains Energy shareholders will receive .5981 shares of common stock in new holding company for each Great Plains Energy share?.Says ?transaction has a total equity value of approximately $14 billion?.Westar Energy Inc says Bassham will serve as president and chief executive officer of new company and will also serve as a member of board of directors.Deal is ?structured to permit a tax-free exchange of shares. No transaction debt will be incurred?.Westar Energy Inc - Great Plains Energy shareholders will receive .5981 shares of common
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