Unable to find a suitable generation partner for its high flying trading arm, UtiliCorp United Inc. instead will hold an initial public offering for a portion of subsidiary Aquila Energy Corp. and then spin off the remaining shares next year to its shareholders in a tax-free distribution. The result will be two stand-alone publicly traded companies, both based in Kansas City.
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Scarcity of Suitable Gas Partners Driving M&As
The pace of announced mergers and acquisitions (M&A) haspicked up steam in the last few weeks because electric utilitiesare realizing that the pool of potential natural gas targets isquickly dwindling, according to a Merrill Lynch & Co. report.
March 8, 1999