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The merger will be carried out through a stock exchange. Shareholders of Essential Utilities will receive 0.305 shares of American Water for each share they currently own. Following the merger, American Water shareholders are expected to hold approximately 69% of the new company, while Essential shareholders will own around 31%. The combined entity will operate under the name American Water.
Based on the stock price from Friday, the company's estimated market value is $40 billion, and its enterprise value is projected at $63 billion.
John Griffith, the current CEO of American Water, will take on the role of CEO for the merged company. Christopher Franklin, the CEO of Essential Utilities, will serve as executive vice chairman of the board.
The transaction is anticipated to be finalized by the end of the first quarter in 2027.
American Water currently provides water and wastewater services to more than 14 million individuals and employs approximately 6,700 people. Essential Utilities serves around 5.5 million people.
source: cnn.com
Based on the stock price from Friday, the company's estimated market value is $40 billion, and its enterprise value is projected at $63 billion.
John Griffith, the current CEO of American Water, will take on the role of CEO for the merged company. Christopher Franklin, the CEO of Essential Utilities, will serve as executive vice chairman of the board.
The transaction is anticipated to be finalized by the end of the first quarter in 2027.
American Water currently provides water and wastewater services to more than 14 million individuals and employs approximately 6,700 people. Essential Utilities serves around 5.5 million people.
source: cnn.com
