Gabelli-led investors buy 3.9 million shares of Aquila

By Lisa Kerner

Charlotte, N.C., Jan. 10 - Investors led by Gabelli Funds, LLC and Gamco Asset Management Inc. increased their ownership of Aquila, Inc. to 9.54% from 7.39% with the purchase of an additional 3,923,850 shares of the company's stock between Nov. 20 and Jan. 8.

The shares were priced from $3.62 to $3.99 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Gabelli and Gamco reported the purchase of about 3.86 million shares of Aquila's stock between June 25 and Aug. 27, priced from $3.48 to $4.07, a prior SEC filing stated.

The reporting persons beneficially own 35,869,000 shares of the company's outstanding shares.

Based in Kansas City, Mo., Aquila owns electric power generation assets and operates electric and natural gas transmission and distribution networks.

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