Shareholders Approve Aquila Acuquisition

1 decade 2 years 5 months ago Thursday, October 11 2007 Oct 11, 2007 Thursday, October 11, 2007 5:06:25 AM CDT October 11, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
KANSAS CITY (AP) - Shareholders of Great Plains Energy voted to approve the company's proposed acquisition of Aquila's electric operations in Missouri. A spokesman for Kansas City-based Great Plains says 96 percent of shareholders who voted approved the 1.6 billion dollar purchase. Aquila shareholders approved the sale yesterday. Shareholders will receive about $4.35 in cash and Great Plains stock for each share. The deal still requires approval from federal and state regulators and is scheduled to close in the first quarter of 2008. Aquila will then sell its remaining natural-gas operations in Colorado, Kansas, Nebraska and Iowa and its electric operations in Colorado for almost 1 billion dollars.

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