| 2020-08-04 11:51:46|
EVRG 11:51 08/04 08/04/20
Evergy sinks after Bloomberg says company will remain independent
Shares of Evergy dropped after Scott Deveau and Mark Chediak of Bloomberg reported that the company has decided to remain independent after talking to potential buyers. Under pressure from activist Elliott Management, Evergy reached out to several potential suitors but decided there was more value to be created through the implementation of a new operating plan, sources familiar with the matter told Bloomberg. The company is expected to release the details of the plan Wednesday along with its earnings, the sources said. Following the report, shares of Evergy dropped 7%, or $4.14, to $587.54 before being halted for volatility.