The attempt to merge Kansas City-based Great Plains Energy Inc. (NYSE: GXP) and Topeka-based Westar Energy Inc. (NYSE: WR) suffered a huge setback Wednesday, with the Kansas Corporation Commission unanimously denying the application [PDF].
First announced in May, both companies’ shareholders overwhelmingly approved the deal in September.
However, in December, the KCC’s staff said it couldn’t recommend approval of a merger. In February, the KCC conducted a seven-day hearing as it considered its…
Source: Homes and Lifestyle