has announced it has reached an agreement to purchase a company in Montgomery County.
Pennsylvania American Water has agreed to acquire Audubon Water Company, a private, investor-owned system serving approximately 2,900 customers in Lower Providence Township, Montgomery County and is located directly between Pennsylvania American Water’s existing Royersford and Norristown water systems.
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, according to Pennsylvania American Water.
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