VOORHEES, N. J., January 17, 2002 -- At a special meeting today, owners of common stock of American Water Works Company Inc. representing 80% of the total number of outstanding shares, cast their ballots in favor of adopting the September 16, 2001 merger agreement under which American Water Works will merge with a subsidiary of RWE AG and holders of American Water Works' common stock will receive $46 per share.
"We are pleased that our stockholders recognized the value created by this transaction that was so compelling to the members of the Board," stated Marilyn Ware, Chairman of the American Water Works Board of Directors.
Before the transaction that was approved by stockholders today can be completed, state and federal regulatory approvals are required. Petitions seeking these approvals are underway. As a result of the time required to complete the approval process by the various regulatory agencies, the company does not anticipate completion of the merger until the first half of 2003.
American Water Works Company is the largest publicly traded U.S. corporation devoted exclusively to the business of water. Its 6,600 associates provide water, wastewater and other related services to nearly 16 million people in 29 states and three Canadian provinces More information can be found on the Web at www.amwater.com.
