KANSAS CITY, Mo., May 25, 2007 (PRIME NEWSWIRE) -- Aquila, Inc. (NYSE:ILA), Great Plains Energy Incorporated (NYSE:GXP) and its public utility subsidiary, Kansas City Power & Light Company (KCP&L), and Black Hills Corporation (NYSE:BKH) today filed a joint application with the Federal Energy Regulatory Commission (FERC). The joint application requests, among other things, approval of (i) the sale to Black Hills of Aquila's Colorado electric properties that are subject to FERC regulation and (ii) the subsequent merger of a subsidiary of Great Plains Energy with and into Aquila.
The companies announced the proposed merger of Aquila and a subsidiary of Great Plains Energy, with Aquila surviving the merger and becoming a wholly-owned subsidiary of Great Plains Energy, on February 7, 2007. Immediately prior to this transaction Black Hills will purchase Aquila's electric properties in Colorado and its natural gas properties in Colorado, Iowa, Kansas and Nebraska.
In April, the parties filed the requisite state regulatory applications in Colorado, Iowa, Kansas, Missouri and Nebraska regarding the proposed transactions. The companies expect to file Hart-Scott-Rodino antitrust notifications in the second quarter.
Based in Kansas City, Mo., Aquila owns electric power generation and operates electric and natural gas transmission and distribution networks serving approximately 900,000 customers in Colorado, Iowa, Kansas, Missouri and Nebraska. More information on Aquila is available at www.aquila.com.
Additional Information and Where to Find It
In connection with the proposed merger of Aquila and a subsidiary of Great Plains Energy, on May 8, 2007, Great Plains Energy filed with the SEC a registration statement on Form S-4, containing a joint proxy statement/prospectus and other relevant materials. The final joint proxy statement/prospectus will be mailed to the stockholders of Great Plains Energy and Aquila. INVESTORS AND SECURITY HOLDERS OF GREAT PLAINS ENERGY AND AQUILA ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND THE OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT GREAT PLAINS ENERGY, AQUILA AND THE TRANSACTION. The registration statement and joint proxy statement/prospectus and other relevant materials (when they become available), and any other documents filed by Great Plains Energy or Aquila with the SEC, may be obtained free of charge at the SEC's website at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Great Plains Energy by directing a request to: Great Plains Energy, 1201 Walnut, Kansas City, MO 64106, Attn: Investor Relations. Investors and security holders may obtain free copies of the documents filed with the SEC by Aquila by directing a request to: Aquila, 20 West Ninth Street, Kansas City, MO 64105, Attn: Investor Relations.
Participants in Proxy Solicitation
Great Plains Energy, Aquila and their respective executive officers and directors may be deemed to be participants in the solicitation of proxies relating to the proposed transaction. Investors and security holders may obtain more detailed information regarding the direct and indirect interests of Great Plains Energy, Aquila and their respective executive officers and directors in the proposed transaction by reading the joint proxy statement/prospectus.
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