Evoqua Water rises on $7.5 bln buyout deal; Xylem falls

Evoqua Water Technologies

23/01/2023 16:28

(Updates)
    ** Shares of water treatment solutions provider Evoqua Water
Technologies Corp  AQUA.N  rise 12.9% to $46.3 
    ** Shares of water tech co Xylem Inc  XYL.N  down 9.2% at
$100 - set to see worst day since Feb 2022 if losses hold
    ** XYL to acquire AQUA in an all-stock deal valued at $7.5
bln, including debt
    ** Deal values AQUA at $52.89/shr, a premium of 29% on last
close
    ** AQUA shareholders to receive 0.480 XYL shares per each
Evoqua share held    
        ** The deal, which is expected to close in mid-2023,
comes amid rising demand for fresh water due to population
growth, industrial expansion and increased agricultural
development
  
    ** AQUA gained 18% in last 12 months, while XYL declined 7%
 (Reporting by Pratik Jain and Aditya Samal in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))