Ameren is preparing to make a final offer for Westar Energy, the Topeka-based utility exploring options that include a sale, sources told Bloomberg News.
Westar, working with Guggenheim Partners, asked interested suitors to submit binding offers by May 23, said the sources, who asked not to be identified.
Kansas City-based Great Plains Energy, the parent company of Kansas City Power & Light, also expressed interest in Westar, one of the sources said.
It’s not clear whether Great Plains will move forward with a final offer or if other potential buyers are still in the mix.
No agreement has been reached, and Westar could decide to remain independent. A decision could come by the end of the month, according to the people familiar with the situation.
Spokeswomen for Westar and Great Plains declined to comment, as did a spokesman for Guggenheim. A representative for Ameren also declined to comment.
Ameren, based in St. Louis, provides electricity and natural gas to more than 3 million customers in Missouri and Illinois, according to its website. It has a market value of about $11.8 billion.
Great Plains has more than 838,000 customers in Missouri and Kansas.