SJW & Connecticut Water Amend Deal To All-cash Merger - Quick Facts

(RTTNews) - SJW Group (SJW) and Connecticut Water Service, Inc. (CTWS) announced they have amended the terms of their previously announced merger agreement to an all-cash acquisition of all outstanding common shares of Connecticut Water by SJW Group for $70.00 per Connecticut Water common share, from a stock-for-stock transaction. The Boards believe that the cash consideration will resolve any market distractions resulting from otherwise-inferior proposals for Connecticut Water.

SJW Group said the cash transaction, which has a value of $1.1 billion and an equity purchase price of $843 million, is expected to be immediately accretive to the Group's earnings per share in 2019 (post-close), increasing each year thereafter to high single-digit percentage EPS accretion in 2021.