April 8, 2016 / 6:47 PM / 2 years ago

UPDATE 1-Westar Energy draws takeover interest from Ameren - Bbg

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April 8 (Reuters) - Westar Energy Inc, the biggest power company in Kansas, has drawn takeover interest from St. Louis-based utility Ameren Corp as well as an investor consortium, Bloomberg reported on Friday, citing people familiar with the matter.

The consortium includes Borealis Infrastructure Management Inc and the Canada Pension Plan Investment Board, according to Bloomberg. (bloom.bg/1oJpnX2)

Westar, which has a market value of about $7 billion, is working with Guggenheim Partners to field interest, according to the report.

Westar, the Canada Pension Plan Investment Board and Borealis declined to comment. Ameren was not immediately available for comment.

Topeka-based Westar’s shares rose 2 percent at $50.76 in afternoon trading after a brief halt.

The initial bids for the utility are due next week and other companies may also consider making an offer, Bloomberg reported.

Reuters, citing sources, reported last month that Westar Energy was exploring strategic options, including a sale. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Shounak Dasgupta)

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