Deals
Evergy to Prepare Sale Process After Push From Elliott
- Kansas City utility is expected launch auction next month
- Process is part of two-pronged review announced in March
Power transmission lines are suspended from electricity pylons.
Photographer: Steve Hockstein/Bloomberg
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Evergy Inc. is expected to kick off a formal sale process next month after pressure from activist investor Elliott Management Corp. to improve its operations or sell itself, according to people familiar with the matter.
The Kansas City-based utility said that it plans to run a two-pronged strategic review as part of a settlement reached with Elliott in March. The review is focused on finding ways to improve the company’s operations on a standalone basis as well as looking at potential strategic alternatives.