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Fly News Breaks for April 26, 2018
CWT, CTWS, SJW
Apr 26, 2018 | 11:03 EDT
Janney Capital cited SJW Group (SJW) valuation after California Water Service Group (CWT) confirmed that it proposed to acquire SJW for $68.25 per share. Subsequently, SJW rejected Cal Water's offer, having determined that it was not a superior proposal as defined in SJW's merger agreement with Connecticut Water Service (CTWS).