New England Service Company Receives Stockholder Approval For Acquisition by Aquarion Company

Aug 5, 2021 by Peter Fazekas Connecticut

BRIDGEPORT, CONN. – August 5, 2021 – Aquarion Company and New England Service Company (NESC) announced today that NESC’s stockholders overwhelmingly voted to approve the proposed merger between NESC and Aquarion.  NESC reported that 99.87% of the votes cast voted “FOR” approval of the proposed transaction and that 80.65% of all issued and outstanding shares voted “FOR” approval of the proposed transaction. 

Pursuant to the terms of the merger agreement, NESC will combine with Aquarion in an all-stock, tax-free reorganization.  NESC stockholders will receive 0.51208 common shares of Aquarion’s parent company Eversource Energy in exchange for each share of NESC common stock that they hold. 

“This overwhelming stockholder approval brings us one step closer to finalizing this transaction,” said Donald Morrissey, President of Aquarion.  “We look forward to providing NESC’s customers the reliable service and high-quality water that we deliver to more than 700,000 people across Connecticut, Massachusetts, and New Hampshire every day.”

Applications for all required regulatory reviews have been filed in Connecticut, Massachusetts and New Hampshire, and the transaction is subject to regulatory approvals in each of the three states.  Assuming all required closing conditions are met, Aquarion expects to complete this transaction by the end of 2021. 

About Aquarion Water Company

Aquarion Water Company is the public water supply company for more than 750,000 people in 72 cities and towns in Connecticut, Massachusetts and New Hampshire.  It is the largest investor-owned water utility in New England and among the seven largest in the U.S.  Based in Bridgeport, CT, Aquarion has been in the public water supply business since 1857.  Across its operations, Aquarion strives to act as a responsible steward of the environment and to assist the communities it serves in promoting sustainable practices.  Aquarion Water Company is a wholly-owned subsidiary of Eversource.