SouthWest Water Company (Nasdaq:SWWC) today announced that it has
received approval for its proposed merger from the California Public
Utilities Commission, a required condition to closing. The company
previously received regulatory clearance from four of the five required
state public utility regulators; California was the sole remaining state
approval needed. Subject to the satisfaction of the remaining customary
closing conditions, the company anticipates the transaction will close
on September 13th.
On March 3, 2010 the company announced it agreed to be acquired by
institutional investors advised by J.P. Morgan Asset Management and
Water Asset Management, LLC. In early August, SouthWest Water
stockholders approved the merger agreement. Under the agreement,
SouthWest Water stockholders will be entitled to receive $11 per share.
About SouthWest Water
SouthWest Water Company provides a broad range of operations,
maintenance and management services, including water production,
treatment and distribution; wastewater collection and treatment;
customer service; and utility infrastructure construction management.
The company owns regulated public utilities and also serves cities,
utility districts and private companies under contract. More than a
million people in nine states depend on SouthWest Water for
high-quality, reliable service. Additional information may be found on
the companys website: www.swwc.com.
Forward-Looking Statements
This document contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements relating to the expected timing of the closing of the
proposed transaction, involve risks and uncertainties. These
expectations may differ due to a variety of factors. More detailed
information about these factors is contained in the companys filings
with the Securities and Exchange Commission, including under the caption
Risk Factors in the companys 2009 Annual Report on Form10-K. The
company assumes no obligation to update these forward-looking statements
to reflect any change in future events.
Source: Business Wire
