Evergy Inc. and Elliott Management Corp. are pushing back the deadlines in the utility's strategic review process to accommodate the travel and meeting restrictions being imposed as a result of the COVID-19 pandemic.
In a March 26 filing, Evergy said it is moving the deadline to present a formal recommendation of the strategic review to the board to July 30 from May 30 and the deadline for the board to vote on the recommendation to August 17 from June 17. If Evergy pursues a "Modified Standalone Plan," the deadline for a public presentation of that plan has been delayed to Oct. 14 from Sept. 4.
In January, activist shareholder Elliott unveiled a plan to unlock up to $5 billion in value at Evergy through either a merger or a standalone plan to drive rate-base growth. On March 2 Evergy and Elliott outlined the review process through which it would evaluate the company's options.