UtiliCorp to Mount Proxy Fight for Quanta Board

Quanta Services(PWR Quote) plans to "vigorously oppose" an attempt by UtiliCorp(UCU Quote) to take control of the company's board.

According to a Quanta press release, UtiliCorp, which owns 38% of Quanta, said in a 13-D filing Friday that it will attempt to have its nominees elected to the Quanta board via a proxy motion. Quanta responded that the threat reflects Utilicorp's desire to consolidate Quanta's results with its own earnings in order to meet market earnings expectations. ...