Under the terms of the proposed Great Plains Energy and Aquila transaction, which was approved by the shareholders and boards of directors of both companies, Great Plains Energy will acquire Aquila and its Missouri utility operating divisions, Missouri Public Service Company and St Joseph Light & Power.
Immediately prior to the consummation of this transaction, Black Hills Corporation will acquire from Aquila its Colorado electric utility assets and Colorado, Iowa, Kansas and Nebraska gas utility assets. Each transaction is contingent on the completion of the other transaction, meaning that one transaction will not be completed unless the other transaction is completed.
The companies therefore are recommending in the filing that the commission establish a procedural schedule, with hearings proposed to resume on April 21, 2008, to allow the merger application to be reviewed by the Missouri Public Service Commission within the timeframe established by the transaction documents, regardless of whether a settlement is reached.
