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American Water Works Closes Dunnigan Deal, Water Utility Remains Down On The Day

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Utility companies, specifically those in the water and wastewater space, are trading down between a range of 1-2 percent as of Thursday afternoon trading. York Water Co. (NASDAQ: YORW) highlights as the biggest loser in the space on the day, down 2.21 percent at $25.27 per share.

Following closely behind York are Middlesex Water Company (NASDAQ: MSEX) and American States Water Co. (NYSE: AWR), down 1.82 percent and 1.51 percent respectively.

The space is not without news however, as American Water Works Company (NYSE: AWK) subsidiary California American Water announced Thursday afternoon that they acquired Dunnigan Water & Wastewater System for $2 million.

The deal was reportedly approved in November of 2015, but had taken until Wednesday to officially close the deal.

Despite the downtick in other names in the water utility space, shares of California are only trading down 0.73 percent as of Thursday afternoon at $60.02 per share.

Posted-In: News M&A Movers

 

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