Zurn Water Solutions, Elkay To Merge - Quick Facts

(RTTNews) - Zurn Water Solutions Corp. (ZWS), and Elkay Manufacturing Company have reached a definitive agreement to combine in an all-stock deal. Elkay shareholders will receive up to 52.5 million shares of Zurn Water Solutions. Upon completion, Zurn Water Solutions shareholders will own approximately 71% and Elkay shareholders will own approximately 29% of the combined company - Zurn Elkay Water Solutions Corp. The transaction values Elkay at $1.56 billion. The combined company will continue to trade under the ticker, ZWS.

Zurn Water Solutions Board plans to increase the quarterly cash dividend to $0.07 per share after close of the transaction.