SouthWest Water Company announced the completion of its merger in which institutional investors advised by J.P. Morgan Asset Management and Water Asset Management LLC have acquired the company.
?This partnership enhances SouthWest Water?s ability to invest in systems that will benefit the communities the company serves and ensures continued responsiveness to the needs of local customers,? said Mark Swatek, president and chief executive officer of SouthWest Water. ?The company?s new owners are deeply committed to our industry and their long-term perspective was instrumental in securing the approvals required to complete this transaction several months earlier than expected.?
Pursuant to the terms of the merger agreement, SouthWest Water stockholders are entitled to receive $11.00 in cash, without interest and less any applicable withholding taxes, for each share of the company?s common stock. SouthWest Water?s common stock will cease trading on the Nasdaq Stock Market.
Stockholders of record will receive a letter of transmittal and instructions on how to surrender their shares in exchange for the merger consideration. Stockholders of record should wait to receive the letter of transmittal before surrendering their shares.
