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Actionable news in WR: WESTAR ENERGY Inc,

Great Plains, Westar revise $14 bln merger to ease regulator concerns

* Revised $14 bln merger after regulator blocked previous plan

* New deal structured as merger of equals, no debt used

* Cost savings to fund consumer, shareholder pay-outs

* H1 2018 targeted for deal closing (Recasts, adds detail, content throughout)

By David French and Yashaswini Swamynathan

July 10 (Reuters) - Utilities Great Plains Energy Inc and Westar Energy Inc announced Monday new terms for their proposed $14 billion merger, hoping the revised structure would satisfy regulatory concerns which nixed the previous tie-up plan.

The duo spent nearly a year in consolidation talks only for the Kansas Corporation Commission in April to rule against the transaction, insisting the deal as it stood was not in the best interests of the companies' 1.6 million customers in Kansas and Missouri.

State regulators have become more proactive in recent months toward utility mergers and acquisitions, intervening in deals as they seek to protect local markets amid tough operating conditions for the power industry.