Reported about 19 hours ago
American Water Works and Essential Utilities are set to merge in an all-stock transaction, creating a public water utility valued at approximately $40 billion. The newly formed company will operate as American Water, servicing 4.7 million connections across 17 states. Shareholders of Essential will receive shares in American Water, leading to a 69% to 31% ownership split post-merger. The deal, expected to finalize by early 2027, aims to enhance operational efficiency and uphold customer service without changing rates.
Source: YAHOO