Aqua America Inc., a Bryn Mawr, Pa. headquarted water utility company, has announced it will buy Peoples Gas and its subsidiaries in a $4.3 billion all-cash deal.

According to a press release, the resulting company will serve one million water utility customer connections and more than 740,000 gas customer connections.

As part of the deal, Aqua will assume about $1.3 billion of Peoples’ debt.

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