York Water and Artesian Resources Should Merge
York Water (YORW) and Artesian Resources (ARTNA, OTCQB:ARTNB) are two small-cap water utilities based in the mid-Atlantic. Below I make the case for why I believe the two should merge, as well as what I rate each company at current prices.
Brief Background on York Water and Artesian Resources
Artesian Resources provides water, wastewater, and engineering services to just over 300K people on or near the Delmarva Peninsula (New Castle and Sussex Counties, Delaware; Cecil County, Maryland; Chester County, Pennsylvania), with Delaware accounting