An investigation on behalf of investors of Westar Energy Inc (NYSE:WR) in connection with the proposed takeover was announced and NYSE:WR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/10/2016 -- The acquisition of Topeka, KS based Westar Energy Inc is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold NYSE:WR shares, concerning whether the takeover of Westar Energy Inc by Great Plains Energy Incorporated is unfair to NYSE:WR stockholders.
Investors who purchased shares of Westar Energy Inc (NYSE:WR) and currently hold any of those NYSE:WR shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Westar Energy Inc breached their fiduciary duties owed to NYSE:WR investors in connection with the proposed acquisition.
On May 31, 2016, Great Plains Energy Incorporated, the parent company of KCP&L, andWestar Energy, Inc announced an agreement forGreat Plains Energy to acquire Westar in a combined cash and stock transaction with an enterprise value of approximately $12.2 billion, including total equity value of approximately $8.6 billion. Under the terms of the agreement Westar shareholders will receive $60.00 per share of total consideration for each share of Westar common stock, consisting of $51.00 in cash and $9.00 in Great Plains Energy common stock.
However, the investigation concerns whether the offer is unfair to Westar Energy stockholders. More specifically, the investigation concerns whether the NYSE:WR Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On June 8, 2016, Westar Energy Inc (NYSE:WR) shares closed at $55.80 per share.
Those who are current investors in Westar Energy Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com