|Bid||62.50 x 1000|
|Ask||0.00 x 1000|
|Day's Range||65.64 - 66.75|
|52 Week Range||51.26 - 69.29|
|PE Ratio (TTM)||26.78|
|Earnings Date||Oct 23, 2018 - Oct 29, 2018|
|Forward Dividend & Yield||1.12 (1.81%)|
|1y Target Est||63.00|
California Water Service Group said on Monday it raised an all-cash offer to buy SJW Group by nearly 3 percent, the latest attempt to woo its fellow California utility out of a proposed tie-up with Connecticut Water Service Inc. CalWater's new offer for SJW of $70 per share, detailed in a market filing, represents a premium of 12 percent to the stock's Monday close and values the company at about $1.45 billion. CalWater also offered to consider alternative transaction structures - details of which were not disclosed in the statement - as well as an additional $0.50 per share for every quarter the deal was delayed by regulatory approval beyond a set timetable.
SJW Group (SJW) today confirmed that California Water Service Group (CWT) (“Cal Water”) has submitted a revised proposal to acquire all outstanding shares of SJW Group common stock for $70.00 per share in cash, an increase of $1.75 per share, or approximately 2.6%, from Cal Water’s previously proposed price of $68.25 per share. The SJW Group Board of Directors, in consultation with SJW Group’s management and legal and financial advisors and consistent with its fiduciary duties, will carefully review and consider all aspects of Cal Water’s revised proposal. SJW Group stockholders are advised to take no action at this time.
SJW Group (SJW) makes an amended all-cash offer to acquire Connecticut Water Service. The new offer provides a 33% premium to the latter's shareholders.
SJW Group (SJW) today announced that members of the Moss family, stockholders who in aggregate own more than 31% of the company’s outstanding shares, have expressed support for the combination with Connecticut Water Service, Inc. (CTWS) (“Connecticut Water”) under the revised terms announced August 6, 2018. “The revised transaction will facilitate a powerful combination that should deliver significant immediate and long-term value to SJW Group stockholders.
SJW Group and Connecticut Water Service Inc said on Monday they were changing from a merger to an acquisition agreement, with SJW offering to buy the New England utility for $1.1 billion in cash instead of combining stock. The switch to an all-cash offer is worth $70 per Connecticut Water share, a 33 percent premium to Connecticut Water's share price prior to the original deal announced in March, according to a joint statement. It was also higher than the implied $61.86 per share value of the Clinton, Connecticut-based firm under the merger-of-equals transaction, which would have created a combined company in which existing SJW shareholders would hold 60 percent of the stock.
Sharses of Connecticut Water Service Inc. (ctws) shot up 9.9% in premarket trade Monday, after the water supply management company and SJW Group (sjw) announced an amendment to their merger agreement to an all-cash deal from all stock, and the in which the buyout bid increased to $70 a share. The per-share bid is 11% above Monday's closing price for Connecticut Water's stock of $62.85, is 10% above Eversource Energy's (es) per-share bid of $63.50 and 13% above the per-share value of the original Connecticut-SJW merger agreement in March.
SJW Group (SJW) (“SJW Group”) and Connecticut Water Service, Inc. (CTWS) (“Connecticut Water”) today announced that they have amended the terms of their previously announced merger agreement from a stock-for-stock transaction to an all-cash acquisition of all outstanding common shares of Connecticut Water by SJW Group for $70.00 per Connecticut Water common share. The cash transaction, which has a value of $1.1 billion and an equity purchase price of $843 million, is expected to be immediately accretive to SJW Group’s earnings per share (EPS) in 2019 (post-close), increasing each year thereafter to high single-digit percentage EPS accretion in 2021.
On a per-share basis, the San Jose, California-based company said it had net income of 62 cents. Earnings, adjusted for costs related to mergers and acquisitions, were 72 cents per share. The parent of ...
SJW Group today reported financial results for the second quarter ended June 30, 2018. SJW Group net income was $12.9 million for the quarter ended June 30, 2018, compared to $18.7 million for the same period in 2017.
San Jose, Calif. and Clinton, Conn., July 20, 2018--. Companies Moving Forward to Secure Required Approvals for Planned Close During Fourth Quarter 2018 Combined Company Will Be a Leading, Pure-Play Water ...
CLINTON, Conn., July 16, 2018 /PRNewswire/ -- Connecticut Water Service, Inc. (CTWS) today issued the following statement regarding recent mischaracterizations of Eversource Energy's (ES) July 2, 2018 acquisition proposal. To avoid any confusion regarding the terms of Eversource's revised acquisition proposal, Connecticut Water clarified that Eversource's proposal is not for $66.00 per share. Eversource has only made a less than 1 percent increase to $64.00 per share from its prior inadequate, below market proposal.
Connecticut Water Service Inc rejected a revised takeover offer from Eversource Energy, according to regulatory filings from both companies on Friday, insisting it would consider abandoning its planned merger with another utility only for a much higher offer. The episode is the latest in a contentious four-way water utility merger battle that emerged after Connecticut Water and SJW Group announced in March they planned to combine, with California Water Service Group also involved. Clinton-based Connecticut Water, which turned down a previous takeover proposal from Eversource Energy, said it had received a $64 per share offer on July 2, but its board unanimously rejected this as it was "inadequate and still undervalues" the company, given it was worth less than 1 percent more than the dismissed April deal.
“We remain committed to our signed, definitive agreement to merge with Connecticut Water as the superior path forward for our stockholders and all of our constituents. “As previously stated, we will cooperate with the California Public Utilities Commission’s (“CPUC”) Order Instituting Investigation (“OII”), a fact-finding initiative by which the CPUC will determine whether the transaction is subject to its review, and if so, whether it is in the public interest, and its additional request to consider the ratemaking impacts of the proposed merger as part of San Jose Water Company’s current general rate case that was filed this past January and is scheduled to conclude this December. The CPUC has committed to completing the OII within the next five months, which keeps us on track to complete our proposed merger with Connecticut Water during the fourth quarter of 2018.
Eversource's Revised $64.00 Per Share Proposal Represents a Less Than 1% Increase from Previously Rejected $63.50 Per Share Proposal Following Comprehensive Review, Connecticut Water Service Board Unanimously ...
SJW Group (SJW) is committed to supporting the California Public Utilities Commission’s (CPUC) decision – confirmed today by the CPUC – to issue an Order Instituting Investigation (“OII”) of SJW Group’s merger with Connecticut Water Service, Inc. (CTWS) (“Connecticut Water”). The OII is a fact-finding initiative by which the CPUC will determine whether the transaction is subject to its review.
SJW Group today announced that the Company will release its second quarter 2018 financial results after the close of the market on July 25, 2018. Eric W. Thornburg, Chairman of the Board, President and Chief Executive Officer, and James P.
SJW Group (SJW) today announced that SJWTX, Inc., a wholly owned subsidiary of SJW Group based in New Braunfels, Texas, has completed its acquisition of the Deer Creek Ranch Water Co., LLC’s water system. In 2017, SJWTX, Inc. entered into an agreement to purchase the water system assets. SJWTX, Inc., operates as Canyon Lake Water Service Company in New Braunfels about 40 miles south of Deer Creek Ranch’s service area.
NEW YORK, June 25, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Tredegar ...
Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. SJW Group (NYSE:SJW) has returned to shareholders overRead More...
SJW Group (SJW) today commented on the termination of Connecticut Water Service, Inc.’s (CTWS) (“Connecticut Water”) “go-shop” process related to the merger with SJW Group. Robert A. Van Valer, the lead independent director of SJW Group’s Board of Directors and trustee of the Roscoe Moss Jr. Revocable Trust, which is the largest stockholder of the company, said, “We are pleased that Connecticut Water has verified and validated the superior value of our merger. “We remain committed to our signed, definitive agreement to merge with Connecticut Water as the superior path forward for our stockholders and all of our constituents.
CLINTON, Conn., June 18, 2018 /PRNewswire/ -- Connecticut Water Service, Inc. (CTWS) today announced that the deadline to submit non-binding indicative proposals under the Company's previously announced "go-shop" process has expired and that no proposals or indications of interest were received. Connecticut Water's financial advisors directly contacted more than 50 parties, including more than 20 water and regulated utilities and more than 30 financial sponsors, to determine their interest in exploring a potential transaction with Connecticut Water.
SJW Group (SJW) (the “Company”) today announced that its Board of Directors, following a careful and thorough review in consultation with SJW Group’s management as well as legal and financial advisors consistent with its fiduciary duties, unanimously rejected the highly-conditional unsolicited tender offer made by California Water Service Group (CWT) (“Cal Water”) to acquire all outstanding shares of SJW Group at a price of $68.25 per share in cash. The Board recommends that SJW Group shareholders NOT tender their shares into Cal Water’s offer (the “Offer”) and reaffirms its recommendation that SJW Group stockholders vote FOR the signed, definitive merger agreement with Connecticut Water Service, Inc. (CTWS) (“Connecticut Water”).
California's utilities regulator has told SJW Group it must seek approval for its proposed merger with Connecticut Water Service Inc, according to a document provided by the regulator to Reuters, a move that creates a potentially significant impediment to the deal. The deal is part of a contentious four-way water utility merger battle, also involving California Water Services Group and Eversource Energy. A regulatory review in California would likely extend the time needed to approve the merger by many months, given the state's active approach to oversight, analysts have said.
California Water Service (CWT) makes a direct offer to SJW stakeholders at a 30% premium after the latter's board refuses the acquisition proposal of the former.