Great Plains Energy (GXP) will have to pay $380 million break up fee to Westar Energy (WR) if it fails to consummate an acquisition of Westar.
“In the event we would need to pay a termination fee, the applicable fee would be $380 million,” said Lori Wright, of Great Plains Energy.
The $380 million fee would be slightly more than what Westar Energy earns in a year. The company earned $347 million, or $2.43 per share, for 2016 compared with earnings of $292 million, or $2.11 per share, for 2015.
Great Plains Energy and Westar Energy recently filed a petition with the Kansas Corporation Commission requesting more time to consider a merger.
On April 19, 2017, The KCC denied approval of Great Plains Energy’s acquisition of Westar.
The new petition for reconsideration requests additional time until May 31, 2017, to allow further discussions between Great Plains Energy and Westar to determine if a mutually agreeable revised transaction might be negotiated that resolves the concerns identified by the KCC, while preserving meaningful benefits for customers and shareholders.
If you read the original order denying the sale of Westar Energy, you get the idea that the Kansas Corporation Commission left no room for negotiation. It appears the KCC hates the deal, period.
Great Plains is trying to salvage the situation. The company does not want to pay a $380 million breakup fee.
FOREX INVESTMENT I never believed my life will change in such a manner, i saw a review on a page about Mr Carlos signals and strategies and before then i have never risk money doing anything online with anybody because i think i was so wise and never want to be cheated, but when i contacted him and he explained everything to me concerning trading and the profit i can make within a week i was convinced to give a trial and why i risked to invest $500 was because i don't need to send him the money but to create and fund my trading account all by myself and give him the access to manage my trading account and after one week i made a withdrawals of $10,000, please i am very happy to introduce all my friends and family to invest in themselves and there family. Cryptocurrency investment is taking over Gold and this is the best time to invest. If you are new to crypto currency investment is suggest you contact Mr Carlos on Telegram : @IEBINARYFX or
ReplyDeleteWhatsApp : +1(424)285-0682