American Water to acquire Essential Utilities; Essential shareholders get 0.305 AWK shares each

Essential Utilities, Inc.

Essential shareholders receive 0.305 shares of American Water common stock per share; implied value not disclosed.
Termination fees: $370M payable by Essential if it terminates for superior proposal; $835M by American Water.
Post-merger, John Griffith remains CEO of American Water; Christopher Franklin to serve as Executive Vice Chair for 2 years.
Combined board will have 15 directors, including 5 from Essential.
Deal expected to close by April 26, 2027, subject to shareholder approvals, regulatory approvals, and other conditions.

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