OMERS commits $750 mln to Great Plains' buy of Westar Energy
Great Plains Energy Inc (NYSE: GXP), the parent of regulated power utility Kansas City Power & Light, has agreed to acquire Westar Energy Inc (NYSE: WR) for US$8.6 billion in cash and stock. Great Plains Energy said the acquisition, which is expected to close in the spring of 2017, will create a leading electric utility in the Midwestern United States with over 1.5 million customers in Kansas and Missouri, and nearly 13,000 megawatts of generation capacity. As part of the deal's financing terms, the company secured a US$750 million preferred convertible equity commitment from the Ontario Municipal Employees Retirement System (OMERS).
31 May 2016•10 mins read
