March 2, 2020 / 1:53 PM / a month ago

U.S. utility Evergy reaches deal with Elliott Management

March 2 (Reuters) - U.S. utility Evergy Inc said on Monday it will appoint two independent directors and explore options, including a merger, as part of an agreement with activist investor Elliott Management Corp.

Elliott owns an economic interest equivalent to about 10 million shares of Evergy. Reuters, in February, reported the company was in advanced talks with Elliott about a deal to avert a board challenge after the hedge fund said it must improve its performance or consider a merger. (Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur)

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