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 story : : Evoqua Water stock soars after Xylem’s all-stock buyout bid represents 29% premium #FinanceUSA #StockMarketNEWS Shares of Evoqua Water Technologies Corp. AQUA soared 14.6% toward a nine-month high

@stockMarketNEWS 6 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

: Evoqua Water stock soars after Xylem’s all-stock buyout bid represents 29% premium #FinanceUSA #StockMarketNEWS
Shares of Evoqua Water Technologies Corp. AQUA soared 14.6% toward a nine-month high in premarket trading Monday, after the water and wastewater treatment company agreed to be acquired by Xylem Inc. XYL in an all-stock deal valued at .5 billion. Xylem’s stock tumbled 9.7% toward a three-month low. Under terms of the deal, Evoqua shareholders will receive 0.480 Xylem shares for each Evoqua share they own. Based on Friday’s stock closing prices, that values Evoqua shares at .89, implying a 28.9% premium. The per-share bid price implies a market capitalization for Evoqua of .44 billion. The deal is seen achieving 0 million in synergies per share within three years after closing, which is expected to occur in mid-2023. “Our acquisition of Evoqua creates a transformative global platform to address water scarcity, affordability and resilience at even greater scale,? said Xylem Chief Executive Patrick Decker. Evoqua’s stock has gained 4.9% over the past 12 months through Friday, while Xylem shares have tacked on 2.9% and the S&P 500 SPX has lost 9.7%.


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