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Benzinga
Benzinga
Business
Akanksha Bakshi

American Water, Essential Utilities Unite In Major Deal To Reshape US Water Market

American Water Essential NYSE America AWK WTRG American Water Works The United States
Business,Handshake,For,Teamwork,Of,Business,Merger,And,Acquisition,successful,Negotiate,hand

American Water Works Company, Inc. (NYSE:AWK) and Essential Utilities, Inc. (NYSE:WTRG) announced Monday that their boards unanimously approved an all-stock, tax-free merger. The move will create a dominant, regulated water and wastewater utility across the United States.

Based on stock prices as of Oct. 24, the combined entity is projected to have a market capitalization of $40 billion and an enterprise value of $63 billion.

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