Evoqua Gains On Agreement To Be Acquired By Xylem

Evoqua Water Technologies Corp. (AQUA) shares are gaining more than 11 percent on Tuesday morning trade after agreeing to be acquired by its peer Xylem (XYL) in an all-stock deal worth an enterprise value of $7.5 billion. As per the definitive agreement, Evoqua shareholders will receive 0.480 shares of Xylem for each share, representing a value of $52.89. Xylem shares are on a decline.

Xylem, upon closing of the deal, will own around 75 percent of Evoqua and will own approximately 25 percent of the combined company.

Currently, AQUA shares are at $45.76, up 11.53 percent from its previous close of $41.03 on a volume of 2,043,406.

Xylem shares are at $99.51, down 9.68 percent from the previous close of $110.18 on a volume of 1,352,805.

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