Deal to Create West’s Largest Water Provider

Western Water Co. agreed to buy Vidler Water Co. from Global Equity Corp. for $98.9 million in stock, which would create the largest water provider in the Western U.S. Western Water will issue 8.24 million shares of common stock, valued at $98.9 million based on Friday’s closing price, to Toronto-based Global Equity, which will give the Canadian company a 50% stake. San Diego-based Western Water sells water from its land holdings and water reserves in California and Colorado. Acquiring Vidler will boost its water production to 200,000 acre-feet of water a year and add operations in Nevada and Arizona. Representatives of both companies weren’t immediately available to comment. Western Water shares were unchanged at $12 on Nasdaq.