Water tech firm Xylem to acquire Evoqua in $7.5 bln deal (updated)

Evoqua Water Technologies

23/01/2023 12:27

(Adds details from release)
       Jan 23 (Reuters) - Xylem Inc  XYL.N  said on Monday it
would acquire water treatment solutions firm Evoqua Water
Technologies Corp  AQUA.N  in an all-stock deal valued at $7.5
billion, including debt.
    Evoqua stockholders will receive 0.480 shares of water
technology company Xylem for each share held, representing a
value of $52.89 a share as of Xylem's last close. The deal is
expected to close in mid-2023.
    Pittsburgh, Pennsylvania-based Evoqua operates in more than
150 locations across nine countries and provides wastewater
treatment solutions to industrial, municipal and recreational
customers.
    Lazard and Guggenheim Securities served as financial
advisers to Xylem, while Gibson, Dunn & Crutcher LLP was its
legal adviser.
 (Reporting by Nathan Gomes in Bengaluru
Editing by Vinay Dwivedi)
 ((Nathan.Gomes@thomsonreuters.com;))