Great Plains Energy, Inc. (ticker: GXP, exchange: New York Stock Exchange (.N))
News Release -
5-Sep-2002
Aquila Makes No Recommendation On Main Street's Unsolicited Mini-Tender OfferKANSAS CITY, Mo., Sep 10, 2002 (BUSINESS WIRE) -- Aquila, Inc. (NYSE: ILA)
announced today that it is aware Main Street AC, Inc. ("Main Street") has
amended its unsolicited mini-tender offer to acquire up to 4.9 percent of
Aquila's Class A common stock for $5.45 per share in two respects: (i) it has
specified that the offer applies to Aquila's common stock and not its Class A
common stock; and (ii) it has amended the offer to include a statement that all
offers must be closed in less than one year from the offer date. Because Aquila
believes shareholders should make their own investment decision, Aquila makes no
recommendation on the unsolicited offer.
However, Aquila cautions that shareholders should carefully consider Main
Street's ability to fund the purchase of their shares. Shareholders should also
be aware that they will have no right to withdraw any stock tendered in the
offer and that Main Street may delay its obligation to close the sale for up to
one year from the date of its original offer.
Aquila recommends that any Aquila shareholders considering the mini-tender offer
consult their financial adviser before making a decision as to whether to accept
or reject the offer. Aquila also recommends that shareholders consult an article
published by the Securities and Exchange Commission, which contains "Tips for
Investors" in respect of mini-tender offers. (To access the article go to
www.sec.gov/investor/pubs/minitend.htm.)
Based in Kansas City, Missouri, Aquila operates electricity and natural gas
distribution networks serving more than six million customers in seven states
and in Canada, the United Kingdom, New Zealand and Australia. The company also
owns and operates power generation and mid-stream natural gas assets. At June
30, 2002, Aquila had total assets of $11.9 billion. More information is
available at www.aquila.com.
CONTACT: Aquila, Inc.
Media:
Al Butkus, 816/701-6316
Media Relations, 816/467-3000
Investors:
Neala Clark, 816/467-3562
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2002 Business Wire. All rights reserved.
|
Great Plains Energy, Inc.
