Evoqua merges with Xylem in $7.5 billion all-stock transaction

Client(s) Evoqua Water Technologies Corp.

Jones Day advised Evoqua Water Technologies Corp. (NYSE: AQUA) in its $7.5 billion stock-for-stock merger with Xylem Inc. (NYSE: XYL).

Under the terms of the agreement, Evoqua stockholders received a fixed exchange ratio of 0.48 shares of Xylem common stock for each share of Evoqua common stock they hold at the closing of the transaction. Post-closing, current Xylem stockholders now own approximately 75 percent of the combined company on a fully diluted basis, while Evoqua stockholders own approximately 25 percent.

Two mutually agreed upon members of the Evoqua Board of Directors joined the Board of the combined company.