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California Water extends takeover offer for SJW by eight weeks

Published 07/20/2018, 05:18 PM
© Reuters.  California Water extends takeover offer for SJW by eight weeks
  • California Water Service (NYSE:CWT) says it is extending the expiration date of its $68.25/share tender offer for SJW Group (NYSE:SJW) to Sept. 28 from Aug. 3.
  • CWT says it continues to believe its tender offer "provides far greater value to SJW stockholders and is therefore significantly superior to the highly conditioned proposed merger" with Connecticut Water (NASDAQ:CTWS).
  • CTWS and SJW earlier today said they refiled their merger application with Connecticut utility regulators after withdrawing it late last month when both parties agreed to consider competing offers to an unsolicited bid from Eversource Energy (NYSE:ES).
  • Now read: How To Retire At 63 With Half A Million In 2018


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