American Water reaches agreement to acquire Gordon’s Corner Water

New Jersey American Water (AWK) announced that an agreement has been reached for it to acquire Gordon’s Corner Water Company, a privately owned water company that serves approximately 15,000 customers in portions of Colts Neck, Manalapan and Marlboro Townships. New Jersey American Water plans to gradually connect the Gordon’s Corner system with its systems in Monmouth County to maintain reliable service. The project is also intended to help ensure adequate water supply to the area. Additionally, New Jersey American Water is committed to offering employment to approximately 20 employees from Gordon’s Corner Water Company, who take pride in providing water services in these areas. Under the terms of the transaction, New Jersey American Water will acquire Gordon’s Corner, with its shareholders receiving AWK common stock via merger in exchange for all their issued and outstanding shares. Following this merger, Gordon’s Corner will be merged into New Jersey American Water. New Jersey American Water and Gordon’s Corner will seek approval of the acquisition from the New Jersey Board of Public Utilities. The transaction is expected to be completed by mid-2026.