Shareholders have given approval to the merger of Great Plains Energy Incorporated and Westar Energy, Inc., both in Kansas.
Westar is considered the largest electric utility in the state and has 700,000 customers and 2,400 employees. Great Plains is the parent company of KCP and L and headquartered in Kansas City, Missouri.
“Our shareholders’ support for the transaction clearly demonstrates the value of combining Westar and Great Plains Energy,” said Mark Ruelle, president and chief executive officer of Westar. “Together, we will be stronger both financially and operationally, which will benefit customers, shareholders and the communities in which we operate. We continue to make progress toward completing the transaction in the spring of 2017.”
The announcement comes on the heels of the recent endorsements of the transaction by the Kansas City Area Development Council, regional economic development organizations and elected officials. Endorsements touted the economic benefits, competitive electric rates and commitment to growth that the combined utility will bring to the region.