Westar Energy (NYSE:WR) has agreed to be acquired by Great Plains Energy (NYSE:GXP), a company that is valued at $3 billion less than Westar.
Great
Plains Energy, the parent company of Kansas City Power & Light, has
a market capitalization of $4.5 billion compared with Westar Energy's
market cap of $7.5 billion.
In the late 1990s,
Westar tried to buy Kansas City Power & Light in a hostile takeover,
but was spurned. Now the roles are reversed, and KCP&L's parent
company is acquiring Westar Energy in a deal approved by the boards of
directors at both companies.
Click link to read the rest of the article:
No comments:
Post a Comment