American Water Works Company to Merge with Essential Utilities in $63 Billion All-Stock Deal

American Water Works Company, Inc. and Essential Utilities, Inc. announced a definitive, all-stock, tax-free merger under which Essential shareholders will receive 0.305 shares of American Water for each share of Essential. The combination is intended to create the largest regulated water and wastewater utility in the United States, serving about 4.7 million water/wastewater connections across 17 states, with the deal expected to close in the first quarter of 2027 subject to regulatory approvals and other customary conditions.