The Empire District Electric Company (1.5% of net assets as of December 31, 2016)(EDE –$34.09–NYSE) (NYSE:EDE) is a regulated utility company with operations in Missouri, Kansas, Oklahoma, and Arkansas. On February 9, 2016, EDE entered into an agreement to be acquired by Algonquin Power & Utilities Corp. for $34 cash per share. This transaction values EDE at $2.4 billion dollars, and is subject to regulatory and shareholder approvals. The merger closed on January 1, 2017.
From Mario Gabelli (Trades, Portfolio)'s ABC Fund fourth quarter 2016 commentary.
