CEO: Westar-Great Plains Merger Plan To Be Filed This Month
The CEO of Westar says the utility and Great Plains Energy will file their new merger plan with Kansas regulators later this month.
CEO Mark Ruelle says meetings will be scheduled later this year for a shareholder vote on the proposal.
Ruelle updated investors yesterday [Wednesday] on the second plan to combine the utilities. The Kansas Corporation Commission rejected a proposal in April for the $12.2 billion sale of Westar to Great Plains.
Ruelle says paperwork will be filed with state and federal entities by the end of August.
The goal is to complete the agreement in the first half of 2018.
Great Plains Energy, the parent company of Kansas City Power & Light, is based in Kansas City, Missouri. Westar is the largest utility in Kansas.