Evergy’s Agreement with Elliott Management

On March 2, 2020, Evergy, Inc. (“Evergy”), a vertically integrated, regulated, investor‑owned electric utility serving customers in Kansas and Missouri, announced that it has entered into an agreement with affiliates of Elliott Management Corporation (“Elliott”), which currently own an economic interest equivalent to approximately 10 million shares of Evergy’s common stock. Cravath is representing Evergy in connection with the agreement.

As part of the agreement, Paul Keglevic, former chief financial officer and chief executive officer of Energy Future Holdings, and Kirk Andrews, current executive vice president and chief financial officer of NRG Energy, are being appointed to the Evergy board as new independent directors. Pursuant to the agreement, Elliott has agreed to customary standstill, voting and other provisions.

The Cravath team is led by partner Erik R. Tavzel and includes associates Timothy N. Nguyen and Wonnie Song.