Gibson Dunn advises Essential Utilities, Inc. on $63 billion acquisition of American Water Works Company, Inc.

Essential Utilities is the acquirer in a merger with American Water Works that will create a regulated U.S. water and wastewater public utility with roughly US$40 billion of pro forma market capitalization and about US$63 billion of combined enterprise value.
The transaction is structured as a merger between Essential Utilities and American Water Works; the disclosed economics focus on the scale of the combined company at about US$63 billion of enterprise value and about US$40 billion of market capitalization.
A notable feature is the strategic combination of two regulated water and wastewater utilities into a much larger public company, positioning the merged group at significant scale in the U.S. utility sector.

Essential Utilities is the acquirer in a merger with American Water Works that will create a regulated U.S. water and wastewater public utility with roughly US$40 billion of pro forma market capitalization and about US$63 billion of combined enterprise value.
The transaction is structured as a merger between Essential Utilities and American Water Works; the disclosed economics focus on the scale of the combined company at about US$63 billion of enterprise value and about US$40 billion of market capitalization.
A notable feature is the strategic combination of two regulated water and wastewater utilities into a much larger public company, positioning the merged group at significant scale in the U.S. utility sector.

Deal Overview