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  "documentTitle": "Essential Utilities, Inc. (WTRG)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-03-08 00:00:00",
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      "text": "Spruce Point believes it unusual that an acquiror offer to reimburse legal and transaction costs of its target. We find that WTRG made such an offer to acquire the Village of Frankfort's assets. Also, notice the large capital investment requirement of $5.575 million relative to the upfront purchase price of $1.4 million.",
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      "text": "Proposal Highlights: Purchase Price: $1.40 M; Aqua project 5-year CIP = $5.575 Million; Aqua to reimburse Village up to $50,000 for legal / transactional costs",
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      "text": "Source: FOIA from Village of Frankfort",
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      "text": "Email And Presentation Exchange Between WTRG And Village of Frankfort Offering To Reimburse Expenses",
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      "kind": "title",
      "text": "Is It Now Standard Practice To Pay Target Transaction Costs To Close Deals?",
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