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Xylem To Acquire Evoqua In All-stock Deal

Xylem Inc. (XYL) and Evoqua (AQUA) have entered into a definitive agreement under which Xylem will acquire Evoqua in an all-stock deal that reflects an implied enterprise value of approximately $7.5 billion. Evoqua shareholders will receive 0.480 shares of Xylem for each Evoqua share, representing a value of $52.89 per share.

Upon closing, Xylem shareholders will own approximately 75 percent and Evoqua shareholders will own approximately 25 percent of the combined company. Following the closing, the combined company will continue to be led by Patrick Decker, Xylem's CEO. The combination is anticipated to deliver run-rate cost synergies of $140 million within three years.

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