Great Plains Energy, the parent company of Kansas City Power & Light, will purchase Westar Energy in a $12.2 billion deal, Westar announced Tuesday.
Westar Energy will be sold for $60 per share — $51 per share in cash and $9 per share in stock. The purchase price includes $3.6 billion in Westar debt Great Plains will also assume. Kansas City, Mo.-based Great Plains secured an $8 million loan from Goldman Sachs for the cash portion of the transaction, according to a statement released Tuesday morning.