California Water Service Completes Palm Mutual Water Company Acquisition
CWT sits 19% above its 52-week low of $41.29.
Summary
California Water Service Group has completed its acquisition of Palm Mutual Water Company. This action aligns with the company's previously stated strategy in its Q1 10-Q filing to pursue significant acquisitions for long-term growth. While financial terms were not disclosed, the completion expands the company's service area and confirms execution on its strategic initiatives.
At the time of this announcement, CWT was trading at $49.04 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $41.29 to $50.44. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.