logo
Plus   Neg
Share
Email

SJW Group Board Rejects Cal Water's Offer - Quick Facts

SJW Group (SJW) announced its Board unanimously rejected the highly-conditional unsolicited tender offer made by California Water Service Group (CWT) to acquire all outstanding shares of SJW Group at a price of $68.25 per share in cash. The Board reaffirmed its recommendation that SJW Group stockholders vote for the signed, definitive merger agreement with Connecticut Water Service, Inc. (CTWS).

The Board concluded that the Cal Water's offer neither constitutes nor is reasonably likely to lead to a SJW Superior Proposal under the company's existing merger agreement with Connecticut Water.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Online-video streaming giant Netflix Inc. (NFLX), Tuesday reported a fourth-quarter profit that trounced Wall Street estimates, as revenues surged 31% driven by strong subscriber growth. Netflix added 8.76 million subscribers globally in the quarter, above its forecast of 7.60 million, to end the... Fast food chain Krystal Company has filed for bankruptcy, according to reports. The Atlanta-based Krystal filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court in Atlanta. In the filing, the company reportedly disclosed assets between $10 million and $50 million, and liabilities between $50 million and $100 million. The chief executive officer of Google's parent company Alphabet called for artificial intelligence or AI to be regulated, noting that there are real concerns about the potential negative consequences of the technology. According to Alphabet CEO Sundar Pichai, there are real concerns about the negative consequences of AI, from deepfakes to nefarious uses of facial recognition.
Follow RTT
>