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.
Sign Up and Save
Get six months of free digital access to The Kansas City Star
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.