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Evoqua to be acquired in $7.5B deal

By Paul J. Gough – Reporter, Pittsburgh Business Times

Ron Keating Ron Keating, CEO, Evoqua Water Technologies - 2022 EVOQUA WATER TECHNOLOGIES/PBT

By Paul J. Gough – Reporter, Pittsburgh Business Times

Pittsburgh-based Evoqua will be acquired in an all-stock transaction valued at $7.5 billion in a deal announced Monday.

The acquirer is Xylem Inc. (NYSE: XYL), a Washington, D.C.-based water treatment company that works in the water industry as Evoqua (NYSE: AQUA), although with different parts of the infrastructure. The transaction will give Evoqua shareholders 0.48 shares of Xylem for every Evoqua share at a value of $52.89 a share, up 29% from the share price on Friday. Evoqua shareholders will own 25% of the combined company, which will be led by Xylem President and CEO Patrick Decker.

The deal is expected to close in the middle of the year. It’s unclear what role Ron Keating, Evoqua’s current CEO, will play once the deal is complete.

Read more at Pittsburgh Business Times.

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