Overview
- Essential shareholders will receive 0.305 American Water shares per Essential share, leaving American Water holders with about 69% of the combined company and Essential holders with roughly 31%.
- The merged utility, retaining the American Water name, is projected at about $40 billion in market value and $63 billion in enterprise value, with roughly 4.7 million connections across 17 states and service on 18 military installations.
- Operational scale expands with 227 Essential treatment plants added to American Water’s network; headquarters will remain in Camden, N.J., with continued presences in Bryn Mawr and Pittsburgh.
- Leadership plans name John C. Griffith as president and CEO and Christopher H. Franklin as executive vice chair, with commitments to honor union contracts and avoid customer rate changes tied directly to the merger.
- The companies target closing by the end of Q1 2027, expect the deal to be EPS-accretive in the first year post-close, maintain long-term EPS and dividend growth targets, and review non-water assets such as Peoples Natural Gas.