We firmly believe our all-cash proposal will provide superior and immediate value to SJW Group stockholders compared to the transaction with Connecticut Water in which SJW is asking you to pay a premium to Connecticut Water shareholders. Here’s why:

Our $68.25 per share ALL-CASH proposal:

  • Exceeds SJW’s all-time high closing share price;
  • Represents a 30% premium to SJW’s share price at the time of California Water’s April 4, 2018 proposal;
  • Provides stockholders with cash value immediately upon closing; and
  • In our view, has a clear path to timely completion.

We urge SJW stockholders to vote AGAINST using the WHITE proxy card in order to reject the proposed all-stock merger with Connecticut Water.