Gabelli, Gamco buy more shares of Aquila

By Lisa Kerner

Charlotte, N.C., Aug. 30 - Aquila, Inc. shareholders led by Gabelli Funds, LLC and Gamco Asset Management Inc. purchased 3,864,300 shares of Aquila's stock between June 25 and Aug. 27, priced from $3.48 to $4.07, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 27,709,000 shares, or 7.39%, of the company's outstanding shares.

Gabelli and Gamco reported in an earlier SEC filing the purchase of 4,780,800 shares of Aquila's stock between May 16 and July 10, priced from $3.99 to $4.37. On May 29, the investors reported a 5.27% stake in the company.

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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