California Drought Puts A Spotlight On This $7.5 Billion Acquisition
Water technologies provider Xylem (XYL) announced Monday morning it will buy Evoqua Water Technologies (AQUA) in a $7.5 billion all-stock deal. The deal hints at water-industry consolidation, amid the recent ramp up of water-supply tensions over the the California drought and Colorado river shortages. XYL stock fell about 8% Monday while AQUA stock spiked 14% following the announcement.
Per the terms of the deal, shareholders of Pittsburgh-based water treatment company Evoqua…