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POWER STRUGGLEIn April, Kansas City Power & Light's courtship with Utilicorp United was abruptly interrupted by a bid from Western Resources. KCP&L declined Western's overtures and Utilicorp upped its bid. Western also increased its offer. On June 25, KCP&L rejected Western's second bid in favor of Utilicorp's lower, friendlier one. Western now vows to tender an offer directly to shareholders. The market is excited--KCP&L has traded above 27, from 23 7/8 in April--but skeptical: at 26 7/8, KCP&L is still trading far below the 31 Western is bidding. EDITED BY KELLEY HOLLAND
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Updated June 14, 1997 by bwwebmaster
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