Peoples Natural Gas will be acquired to Bryn Mawr-based company, Aqua America, for more than $4 billion.

The announcement was made Tuesday through a news release from Peoples Natural Gas in Pittsburgh.

The release states that Aqua America will purchase Peoples for $4.275 billion, along with the company's $1.8 billion in debt.

The acquisition creates a fully regulated water and natural gas utility company that will service over 1 million water connections and over 700,000 gas utility connections across 10 states, according to the report.

The sale is still subject to regulatory approval. The company said the transaction is expected to close in 2019.

The report states that Peoples headquarters will stay in Pittsburgh and Aqua America headquarters will remain in Bryn Mawr.

Read a full report in the Butler Eagle.