{"id":785645,"date":"2023-09-21T22:15:21","date_gmt":"2023-09-22T02:15:21","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/"},"modified":"2023-09-21T22:15:21","modified_gmt":"2023-09-22T02:15:21","slug":"pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/","title":{"rendered":"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Pennsylvania American<\/b><b> Water <\/b><b>Reaches Agreement to Acquire Audubon Water Company<\/b><\/p>\n<p>MECHANICSBURG, Pa.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPennsylvania American Water announced today that an agreement has been reached for it to acquire Audubon Water Company (Audubon). Under the terms of the transaction, an affiliate of Pennsylvania American Water will merge with Audubon, with shareholders of Audubon Water receiving shares of AWK common stock in exchange for all of the issued and outstanding shares of Audubon, and subsequently, Audubon will merge into Pennsylvania American Water. The transaction values Audubon at approximately $8 million.<\/p>\n<p>\nAudubon is a private, investor-owned system serving approximately 2,900 customers in Lower Providence Township, Montgomery County and is located directly between Pennsylvania American Water\u2019s existing Royersford and Norristown water systems.<\/p>\n<p>\n\u201cThrough this transaction, our growing customer base will benefit from the financial investment needed to deliver necessary infrastructure improvements to secure long-term access to safe drinking water,\u201d noted Martha Russell, President of Audubon.<\/p>\n<p>\nPennsylvania American Water will, over time, interconnect Audubon\u2019s system with Pennsylvania American Water\u2019s Royersford and Norristown systems, eliminating the system\u2019s reliance upon groundwater supply and the need for PFAS-related treatment upgrades. This improvement will provide a cleaner and more reliable water source for Audubon\u2019s customers as well as sufficient supply to support additional area growth. Within the first five years of ownership, the company plans to invest more than $20 million into the system to upgrade aging water infrastructure.<\/p>\n<p>\n\u201cWe look forward to becoming the water service provider for these customers in Lower Providence Township, and we appreciate that the leadership at Audubon Water Company is entrusting us with this privilege,\u201d said Pennsylvania American Water President Justin Ladner. \u201cThe interconnections, system upgrades and source of supply improvements we will accomplish through this acquisition will greatly benefit area customers, while further promoting regionalization and consolidation of our Montgomery County systems.\u201d<\/p>\n<p>\nPennsylvania American Water and Audubon Water Company will seek approval of the acquisition from the Pennsylvania Public Utility Commission (PUC) and Pennsylvania Department of Environmental Protection. The transaction is expected to be completed in late 2024.<\/p>\n<p>\nPennsylvania American Water will adopt Audubon\u2019s current rates at closing. The PUC regulates the company&#8217;s rates, and any future rate changes would have to be reviewed and approved by the PUC. Pennsylvania American Water offers grants and discounted services to customers who qualify through its <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.amwater.com%2Fnjaw%2FCustomer-Service-Billing%2FCustomer-Assistance-Programs%2F&amp;esheet=53559699&amp;newsitemid=20230921066120&amp;lan=en-US&amp;anchor=H2O+Help+to+Others+Program&amp;index=1&amp;md5=aae09718b58d9d4b90897ba7adf019fd\">H2O Help to Others Program<\/a>.<\/p>\n<p><b>About American Water<\/b><\/p>\n<p>\nAmerican Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing<sup>\u00ae<\/sup> by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people across 14 regulated jurisdictions and 18 military installations. American Water\u2019s 6,500 talented professionals leverage their significant expertise and the company\u2019s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.<\/p>\n<p>\nAs one of the fastest growing utilities in the U.S., American Water expects to invest $30 to $34 billion in infrastructure repairs and replacement, system resiliency and regulated acquisitions over the next 10 years. The company has a long-standing history of executing its core operations, aligned with sustainable best practices, through its commitments to safety, affordability, customer service, protecting the environment, an inclusive workforce and strengthening communities.<\/p>\n<p>\nAmerican Water has been recognized on the 2023 Bloomberg Gender-Equality Index for the fifth consecutive year, ranked 18<sup>th<\/sup> on Barron\u2019s 100 Most Sustainable U.S. Companies 2023 List, earned the U.S. Department of Homeland Security SAFETY Act designation and U.S. Environmental Protection Agency\u2019s WaterSense<sup>\u00ae<\/sup> Excellence Award, among additional state, local and national recognitions.<\/p>\n<p>\nFor more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.amwater.com%2F&amp;esheet=53559699&amp;newsitemid=20230921066120&amp;lan=en-US&amp;anchor=amwater.com&amp;index=2&amp;md5=b98af39ea11ac4f65e699bbaf555dee5\">amwater.com<\/a> and join American Water on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Famerican-water%2F&amp;esheet=53559699&amp;newsitemid=20230921066120&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=3&amp;md5=ee206fb8e52c369c07fbc2863be56a02\">LinkedIn<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.facebook.com%2Fweareamericanwater%2F&amp;esheet=53559699&amp;newsitemid=20230921066120&amp;lan=en-US&amp;anchor=Facebook&amp;index=4&amp;md5=510ea4c101631f4eba239ca5d551e92f\">Facebook<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Famwater&amp;esheet=53559699&amp;newsitemid=20230921066120&amp;lan=en-US&amp;anchor=Twitter&amp;index=5&amp;md5=77ca99ce23fce65b23a5b57aea9e7130\">Twitter<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.instagram.com%2Fwekeeplifeflowing&amp;esheet=53559699&amp;newsitemid=20230921066120&amp;lan=en-US&amp;anchor=Instagram&amp;index=6&amp;md5=66878c1b3b5e788a3c5fa1d8b7fd0c8e\">Instagram<\/a>.<\/p>\n<p><b>About Pennsylvania American Water<\/b><\/p>\n<p>\nPennsylvania American Water, a subsidiary of American Water is the largest investor-owned water utility in the state, providing high-quality and reliable water and wastewater services to approximately 2.3 million people.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230921066120r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230921066120\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230921066120\/en\/<\/a><\/span><\/p>\n<p><b>Media:<br \/>\n<\/b><br \/>Kara Rahn<br \/>\n<br \/>Senior Manager, Government, and External Affairs, Eastern PA<br \/>\n<br \/>484-238-5216<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:kara.rahn@amwater.com\">kara.rahn@amwater.com<\/a><\/p>\n<p>\n\u00a0<\/p>\n<p><b>KEYWORDS:<\/b> United States North America Pennsylvania<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Public Policy\/Government Utilities Natural Resources Environment State\/Local Energy Green Technology Other Natural Resources<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230921066120\/en\/243218\/3\/AW-PENNSYLVANIA_New.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company MECHANICSBURG, Pa.&#8211;(BUSINESS WIRE)&#8211; Pennsylvania American Water announced today that an agreement has been reached for it to acquire Audubon Water Company (Audubon). Under the terms of the transaction, an affiliate of Pennsylvania American Water will merge with Audubon, with shareholders of Audubon Water receiving shares of AWK common stock in exchange for all of the issued and outstanding shares of Audubon, and subsequently, Audubon will merge into Pennsylvania American Water. The transaction values Audubon at approximately $8 million. Audubon is a private, investor-owned system serving approximately 2,900 customers in Lower Providence Township, Montgomery County and is located directly between Pennsylvania American Water\u2019s existing Royersford and Norristown water systems. \u201cThrough this &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-785645","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company MECHANICSBURG, Pa.&#8211;(BUSINESS WIRE)&#8211; Pennsylvania American Water announced today that an agreement has been reached for it to acquire Audubon Water Company (Audubon). Under the terms of the transaction, an affiliate of Pennsylvania American Water will merge with Audubon, with shareholders of Audubon Water receiving shares of AWK common stock in exchange for all of the issued and outstanding shares of Audubon, and subsequently, Audubon will merge into Pennsylvania American Water. The transaction values Audubon at approximately $8 million. Audubon is a private, investor-owned system serving approximately 2,900 customers in Lower Providence Township, Montgomery County and is located directly between Pennsylvania American Water\u2019s existing Royersford and Norristown water systems. \u201cThrough this &hellip; Continue reading &quot;Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-22T02:15:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230921066120r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company\",\"datePublished\":\"2023-09-22T02:15:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\\\/\"},\"wordCount\":709,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230921066120r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\\\/\",\"name\":\"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/","og_locale":"en_US","og_type":"article","og_title":"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company - Market Newsdesk","og_description":"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company MECHANICSBURG, Pa.&#8211;(BUSINESS WIRE)&#8211; Pennsylvania American Water announced today that an agreement has been reached for it to acquire Audubon Water Company (Audubon). Under the terms of the transaction, an affiliate of Pennsylvania American Water will merge with Audubon, with shareholders of Audubon Water receiving shares of AWK common stock in exchange for all of the issued and outstanding shares of Audubon, and subsequently, Audubon will merge into Pennsylvania American Water. The transaction values Audubon at approximately $8 million. Audubon is a private, investor-owned system serving approximately 2,900 customers in Lower Providence Township, Montgomery County and is located directly between Pennsylvania American Water\u2019s existing Royersford and Norristown water systems. \u201cThrough this &hellip; Continue reading \"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/","og_site_name":"Market Newsdesk","article_published_time":"2023-09-22T02:15:21+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230921066120r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company","datePublished":"2023-09-22T02:15:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/"},"wordCount":709,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230921066120r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-water-reaches-agreement-to-acquire-audubon-water-company\/","name":"Pennsylvania American Water Reaches Agreement to Acquire Audubon Water Company - 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