Connecticut Water Service, Inc. (NASDAQ: CTWS) today announced that it and SJW Group (NYSE: SJW) have amended the terms of the companies’ merger agreement.
The amended agreement, which was unanimously approved by the Connecticut Water Board of Directors, includes a new go-shop provision, pursuant to which Connecticut Water, with the assistance of its financial advisors, will actively solicit proposals for an alternative merger, acquisition or other strategic transaction involving Connecticut Water. Connecticut Water has a right under the amended merger agreement to review and negotiate any alternative proposals received from third parties until 11:59 p.m. Eastern time on July 14, 2018.
Connecticut Water employees are leading two hikes on the company’s watershed properties in Killingworth and Tolland on Saturday, June 2, as part of this year’s sponsorship of the Connecticut Forest & Park Association’s Connecticut Trails Day 2018. All hikers will be entered into a raffle for a chance to win a gift certificate to L.L. Bean. Connecticut Water will provide reusable water bottles and drawstring bags for the first 20 hikers to arrive.
In response to widespread power outages that are affecting residents who rely on private wells in the Southbury, Middlebury and Oxford area, Connecticut Water and Heritage Village Water have opened a free potable water station at Heritage Village in Southbury. The water station is located at Community House Park, 200 Community House Road, Southbury (near Route 67). This is a free service provided to the community.
On Tuesday, May 8, 2018, as part of National Drinking Water Week, a team of Connecticut Water employees worked on the third phase of a restoration project of an aquifer area on land owned by the Town of Farmington near the Farmington River.
Connecticut Water Service, Inc. (NASDAQ: CTWS) today noted the announcement that Eversource Energy (NYSE: ES) intends to launch a proxy contest in connection with the Company’s pending merger with SJW Group (NYSE: SJW).
Connecticut Water announced that it will be replacing 1,800 feet of water main along North Road (Route 140) in East Windsor between Prospect Hill Road (Route 5) and Shoham Road. The main was installed more than 50 years ago. Work is expected to begin on Sunday evening, April 22, at the intersection with Prospect Hill Road. The project is expected to be completed by early July.