Merger of American Water and Essential Utilities Gains Shareholder Approval, Set to Launch in 2027

On January 10, shareholders of American Water Works Company, Inc. (AWK) and Essential Utilities, Inc. (WTRG) each held special meetings to vote on merger-related proposals. American Water secured the approval of approximately 99% of shares voted, while Essential Utilities garnered support from about 95% of votes cast. The companies expect to complete the merger in the first quarter of 2027, subject to U.S. antitrust review and approvals by state public utility commissions.

In its third-quarter 2025 earnings release, American Water outlined capital investment plans of USD 19–20 billion for 2026–2030 and USD 46–48 billion for 2026–2035—roughly KRW 25–27 trillion and KRW 62–65 trillion, respectively—for infrastructure improvements and acquisitions. The company also reaffirmed a long-term earnings growth target of 7–9% per year. In December 2025, Newsweek ranked American Water first in the water and wastewater utilities sector on its “America’s Most Responsible Companies” list.

American Water is the largest regulated water and wastewater utility in the United States, serving about 14 million people across 14 states and 18 military installations. Essential Utilities operates water, wastewater, and natural gas services for approximately 5.5 million customers in nine states. Once combined, the merged company is projected to have an enterprise value of about USD 40 billion (around KRW 53 trillion).