Liberty Utilities Co. entered into a stock purchase agreement to acquire New York American Water Company, Inc. from American Water Works Company, Inc. (NYSE:AWK) for approximately $610 million on November 20, 2019. The purchase price is subject to customary adjustments. American Water Works Company, Inc. has also entered into an agreement to sell stake in Water Solutions Holdings, LLC to SC Water LLC for $31 million. Existing local management and operations teams of New York American Water Company, Inc. will be maintained. No Job loss shall take place and all existing employees of New York American Water Company, Inc. will also join Liberty Utilities Co. New York American Water Company, Inc.'s headquarters will be in Merrick, New York. If closing has not occurred on or before June 30, 2021, the existing agreement may be terminated, unless either Liberty Utilities or American Water Works opt to extend the closing end date to December 31, 2021. The transaction is subject to regulatory approval by the New York Public Service Commission, and expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, among other closing conditions. On November 3, 2021, a joint proposal was filed in the pending acquisition proceeding with New York Public Service Commission resolving all outstanding issues in dispute among the signatory parties. On November 4, 2021, the Chief Administrative Law Judge affirmed a procedural schedule to facilitate a final decision and a one-day evidentiary hearing on the joint proposal to be held on November 16, 2021. On December 16, 2021, the New York State Department of Public Service, has approved the transaction. The transaction is expected to be completed during the later half of 2020. As of February 27, 2020, the transaction is expected to close sometime in 2021. As of May 6, 2020, transaction is expected to complete no later than early 2021. As of December 14, 2020, the transaction is expected to close in the fourth quarter of 2021. As of June 29, 2021, the deal is expected to close on June 30, 2021. As of August 3, 2021, the transaction is expected to close in first half of 2022. As of December 16, 2021, the transaction is expected to close on or about January 1, 2022. CIBC Capital Markets acted as financial advisor and James G. Goettsch of Husch Blackwell LLP acted as legal advisor for Liberty Utilities Co. and Algonquin Power & Utilities Corp. Wells Fargo Securities, LLC acted as financial advisor and Brian C. Miner of Holland & Knight LLP acted as legal advisor for American Water Works Company, Inc.

Liberty Utilities Co. completed the acquisition of New York American Water Company, Inc. from American Water Works Company, Inc. (NYSE:AWK) on January 1, 2022.