Market Overview

Wall Street's M&A Chatter From April 20: Kindred, Virtu-KCG, Westar-Great Plains Energy


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, April 20, 2017.

Westar Energy Application for Merger With Great Plains Energy Rejected by Kansas Regulator

The Rejection:

On May 29, 2016, Westar Energy, Inc. (NYSE: WR), Great Plains Energy Incorporated (NYSE: GPX) and a subsidiary of Great Plains Energy entered into a merger agreement. On June 28, 2016, Westar Energy and Great Plains Energy filed a joint application with the Kansas Corporation Commission requesting approval of their merger.

The KCC on Thursday voted unanimously to deniy the application for approval of the acquisition of Westar Energy by Great Plains Energy. The parties have the right to file a petition for reconsideration within 15 days of the effective date of the order.

Westar Energy closed at $50.87, down $4.24.

Kindred Said to be Takeover Target

The Rumor:

Shares of Kindred Healthcare (NYSE: KND) spiked higher on a report from Deal Reporter that it could be a takeover target. Kindred acquired Gentiva Health Services in 2015 in a $1.8 billion deal.

Kindred is working with investment banks on the sale process, which could attract interest from Humana Inc (NYSE: HUM), Apollo Global Management (NYSE: APO) and Blackstone Group (NYSE: BX), the sources said.

Kindred Healthcare closed at $8.95, and traded at $9.20 after-hours.

Virtu Financial Agrees to Acquire KCG Holding

The Deal:

Virtu Financial, Inc. (NASDAQ: VIRT) announced it has entered into a definitive agreement to acquire KCG Holdings, Inc. (NYSE: KCG) for $20.00 per KCG share in cash, for a total of approximately $1.4 billion. The transaction is expected to close during Q3 2017, following receipt of KCG shareholder approval and regulatory approvals.

KCG closed at $19.75, up $2.01.


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Posted-In: M&A News Rumors