Elliott Management Sends Letter to Board of Directors of Evergy, Inc.

NEW YORKJan. 21, 2020 /PRNewswire/ — Elliott Management Corporation (“Elliott”), which manages funds that currently own an economic interest equivalent to 11.3 million shares in Evergy, Inc. (the “Company,” or “Evergy”), equating to approximately $760 million in current market value, today released a letter to Evergy’s Board outlining steps which should result in high-certainty, line-of-sight equity value creation of up to $5 billion, with opportunities for significant additional value creation over time.

According to the letter, Elliott sees a clear opportunity to achieve this significant increase in shareholder value while providing tangible benefits to all of Evergy’s key stakeholders, including customers, employees and the broader communities its utilities serve. The letter asserts that a renewed focus on improving core utility operations and investing in Evergy’s critical system infrastructure can rectify its prolonged underperformance, discounted valuation and associated increased cost of capital.

Reference: https://www.prnewswire.com/news-releases/elliott-management-sends-letter-to-board-of-directors-of-evergy-inc-300990314.html

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