OTHER NEWS - July 9, 1996
Times Staff and Wire Reports
Western Resources Begins Hostile Bid for Utility: The Topeka, Kan.-based energy company took its sweetened $1.9-billion bid for Kansas City Power & Light Co. directly to KCPL’s shareholders, hoping to persuade them to scuttle a KCPL-UtiliCorp United Inc. deal. KCPL has resisted takeover efforts from Western Resources since April, pursuing, instead, an earlier $1.7-billion deal with UtiliCorp, a Kansas City, Mo.-based company with holdings in many states and Canada. Western Resources said it began mailing its latest offer to KCPL shareholders this week. KCPL said it has advised its shareholders to wait until the board could make a recommendation.
