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Aquila faces shareholder suit over buyout

Missouri utility owner Aquila was sued by affiliates of hedge fund Pirate Capital, Aquila’s fourth-largest shareholder, who say a $1.7 billion buyout bid by Great Plains Energy undervalues the company. Four Jolly Roger funds managed by Pirate founder Thomas R. Hudson Jr. filed suit in Delaware Chancery Court seeking to derail the deal. Under the proposed ...

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