Utilities M&A » By The Online Investor Staff, updated Sun., Apr. 11, 9:34 AM
Recent mergers and acquisitions in the Utilities M&A category.
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Slide #92. The York Water Company — SYC Wastewater System
Acquirer:
The York Water Company (NASDAQ:YORW)
Acquiree:
SYC Wastewater System
Details:
On October 8, 2013, the Company signed its second wastewater acquisition agreement of 2013, to purchase the wastewater assets of SYC WWTP, L.P. in Shrewsbury and Springfield Townships, York County, Pennsylvania. Completion of the acquisition is contingent upon receiving approval from all required regulatory authorities. Closing is expected in the first quarter of 2014 at which time the Company will add approximately 30 commercial and industrial wastewater customers. The two new agreements signed in 2013 more than triple the size of the Company's wastewater business.
York Water is an investor-owned water utility that impounds, purifies and distributes water. Co. also owns and operates wastewater collection systems and wastewater collection and treatment systems. Co. operates within its franchised territory in Pennsylvania. Water service is supplied through Co.'s own distribution system. Co. obtains the bulk of its water supply from the South Branch and East Branch of the Codorus Creek. Co. supplements its reservoirs with a pipeline from the Susquehanna River to Lake Redman which provides access to an additional supply of untreated water. Co. also owns wells to supply water to its customers in Carroll Valley Borough and Cumberland Township, Adams County.
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 76th percentile
(ranked higher than approx. 76% of all stocks covered)
Analysts' Target Price: YORW Stock Forecast Based on Zacks ABR data; powered by Xignite |
