8-KOther EventsExhibits & Filings

EVERSOURCE ENERGY 8-K Report, Corporate Update (Jun 2, 2017)

Filed June 2, 2017For Securities:ES

Summary

Eversource Energy (ES) announced on June 1, 2017, its definitive agreement to acquire 100% of the outstanding equity interests of Macquarie Utilities Inc. for approximately $880 million in cash, plus assumed debt. This strategic acquisition includes Aquarion Water Company of Connecticut, Aquarion Water Company of Massachusetts, and Aquarion Water Company of New Hampshire. The transaction is expected to close by December 31, 2017, subject to customary closing conditions and receipt of necessary regulatory approvals. This move signals Eversource Energy's expansion into the water utility sector, diversifying its service offerings and geographic footprint. Investors should monitor the regulatory approval process and the integration of these water utilities into Eversource's existing operations, as this acquisition represents a significant undertaking and potential growth opportunity.

Key Highlights

  • 1Eversource Energy to acquire Macquarie Utilities Inc. for approximately $880 million in cash, plus assumed debt.
  • 2Acquisition includes Aquarion Water Company of Connecticut, Massachusetts, and New Hampshire.
  • 3Transaction expected to close by December 31, 2017.
  • 4Closing is contingent upon regulatory approvals from Connecticut, Massachusetts, and New Hampshire utility commissions.
  • 5Hart-Scott-Rodino Act waiting period must expire or be terminated.
  • 6This acquisition represents an expansion into the water utility sector.
  • 7Eversource Energy issued a press release on June 2, 2017, to announce the pending acquisition.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce that Eversource Energy has entered into a Purchase and Sale Agreement to acquire Macquarie Utilities Inc., which owns three water utility companies in Connecticut, Massachusetts, and New Hampshire.

The total equity purchase price is approximately $880 million in cash, plus any debt assumed as part of the transaction.

Key conditions include receiving required regulatory approvals from the Connecticut Public Utilities Regulatory Authority, the Massachusetts Department of Public Utilities, and the New Hampshire Public Utilities Commission, as well as the expiration or termination of the applicable Hart-Scott-Rodino Act waiting period.

The closing of the transaction is expected to occur by December 31, 2017.