SJW Group Board of Directors Rejects California Water Service Group´s Revised Proposal
(WorldNews Business)

SAN JOSE, Calif.--(BUSINESS WIRE)--Aug 17, 2018--SJW Group (NYSE: SJW) today announced that its Board of Directors rejected the revised proposal announced on August 13, 2018, by California Water Service Group (NYSE: CWT) (`Cal Water`) to acquire all outstanding shares of SJW Group common stock for $70.00 per share in cash, a 2.6% increase (or a 1.9% increase on an enterprise value basis) from Cal Water´s previous offer of $68.25 per share. The SJW Group Board concluded, in consultation with external legal and financial advisors, that Cal Water´s revised proposal neither constitutes nor is reasonably likely to lead to a superior proposal under the terms of SJW Group´s amended merger agreement...