WESTERN RESOURCES IS
VICTOR IN KCPL MERGERKANSAS CITY, Mo. - Kansas City Power and Light Co. and Western Resources Inc. will merge in a $2 billion stock swap, Western Resources announced, declaring victory in its hostile bid for the utility.
Under the tax-free deal, Kansas City Power and Light shareholders will receive $32 worth of Western Resources stock for each share they hold.
SHELL CANADA AND MOBIL
SWAP ENERGY PROPERTIES
CALGARY - Shell Canada and Mobil Oil Canada are swapping energy properties in Alberta and off the East Coast to strengthen Shell's stake in the proposed Sable Island natural gas project.
Shell gets 50 percent of what Mobil gained in a property exchange with Petro-Canada, with a 9 percent interest in the Sable Island project. Mobil will get 30 percent of Shell's Harmattan East natural gas stake in central Alberta.