Kansas City Power & Light Cancels Merger with Western Resources
Updated from 10:33 a.m. EST
Kansas City Power & Light (KLT Quote) said Monday that it was dropping its plans to merge its electric utility assets with those of Western Resources, (WR Quote) after three years of talks resulted in a regulatory tangle and uncertainty surrounding Western's declining share price. The Kansas City, Mo.-based utility, a small electric company by industry standards with 450,000 customers, said it decided to terminate the agreement due to difficulties at Western's Protection One subsidiary as well as a steep drop in Western's stock price.| |
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