NEW YORK, NY / ACCESSWIRE / June 8, 2016 / Pomerantz LLP is investigating claims on behalf of investors of Westar Energy, Inc. ("Westar" or the "Company") (NYSE: WR) (ISIN: US95709T100) (CUSIP: 95709T10) concerning the proposed acquisition of Westar by Great Plains Energy Incorporated ("Great Plains Energy").
Westar shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 9980.
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The investigation concerns whether the Westar directors are breaching their fiduciary duties by failing to adequately maximize shareholder value. Under the terms of the proposed transaction, Westar shareholders will receive $60.00 per share of total consideration for each share of Westar common stock, consisting of $51.00 in cash and $9.00 in Great Plains Energy common stock, subject to a 7.5 percent collar based upon the Great Plains Energy common stock price at the time of the closing of the transaction, with the exchange ratio for the stock consideration ranging between 0.2709 to 0.3148 shares of Great Plains Energy common stock for each Westar share of common stock, representing a consideration mix of 85 percent cash and 15 percent stock.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
ReleaseID: 440926
