(Reuters) - U.S. utility Evergy Inc EVRG.N 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.
The company has named Paul Keglevic, former head of Energy Future Holdings and Kirk Andrews, chief financial officer of NRG Energy, to the board.
The two directors will be part of a committee that will explore options and announce the outcome in the first half of 2020.
Reuters, in February, reported that Evergy was in advanced talks with Elliott for a deal to avert a board challenge after the hedge fund said it must improve its performance or consider a merger.
Elliott owns an economic interest equivalent to about 10 million shares of Evergy, which was formed out of the merger of Great Plains Energy and Westar Energy in 2018 and serves 1.6 million customers in Kansas and Missouri.
Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur
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