A deal months in the making took another step forward on Thursday, as the Pennsylvania Public Utility Commission approved the acquisition of Peoples Natural Gas Co. by Aqua America Inc.
The PUC voted 4-1 in favor of the acquisition, according to a release from the commission.
According to the joint application filed by the two companies, the transaction price was $4.275 billion.
Aqua, based in northwest of Philadelphia in Bryn Mawr, provides water services to approximately three million customers…
