Activist investor issues Evergy an ultimatum

An activist investor known for targeting companies like AT&T Inc. sent a letter to Kansas City-based Evergy Inc. on Tuesday outlining its displeasure with the utility’s stock performance and issued an ultimatum: Restructure, or merge with a partner.

Elliott Management Corp. urged Evergy (NYSE: EVRG) to take steps to boost its stock price, including the addition of new board members and management and the exploration of a stock-for-stock merger. Evergy did not respond to a request for comment.

“A…

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