Thu, May 12, 3:56 PM
- Ameren (AEE -0.2%) is preparing to make a final takeover offer for Westar Energy (WR +0.5%), which has asked interested suitors to submit binding offers by May 23, Bloomberg reports.
- Great Plains Energy (GXP +0.2%) also may be interested in WR and has been seeking to partner with a financial investor such as a pension fund or infrastructure fund to help raise the cash necessary to buy its larger rival, according to the report.
- WR, the largest utility in Kansas, reportedly has been considering a sale amid a flurry of U.S. utilities mergers prompted by tepid power demand and mounting costs.
Fri, Apr. 8, 2:09 PM
- Westar Energy (WR +2.3%) moves higher after a brief trading halt, following a Bloomberg report that the Kansas electric utility is getting interest from buyers.
- Ameren (AEE -0.1%), which provides electrical transmission and natural gas delivery to 3M-plus customers in Missouri and Illinois, reportedly is interested, as well as an investor consortium that includes Borealis Infrastructure Management and the Canada Pension Plan Investment Board.
- Initial bids for WR, which has a ~$7B market cap, are due next week, according to the report.
- Now read Westar Energy +7% as it reportedly talks to potential buyers