UTILITIES

KCPL Board Rejects Merger Bid: Kansas City Power & Light Co. rejected the unsolicited $1.7-billion offer from Western Resources Inc. as “ill-advised, ill-conceived and certainly ill-timed.” Drue Jennings, chairman of KCPL, also said Western’s proposal is based on faulty estimates of savings from a merger. He reaffirmed his company’s commitment to merge with UtiliCorp United Inc. Stockholders of both KCPL and UtiliCorp are to vote on the proposed combination May 22. Western will take its case directly to KCPL shareholders, asking them to reject the UtiliCorp deal in favor of Western’s, Chairman John Hayes said. Earlier this month, Topeka, Kan.-based Western Resources offered to combine with KCPL in a stock swap worth $28 a share.