American States Water Co. said that its Golden State Water subsidiary has acquired Rural Water Co. in San Luis Obispo County.

The San Dimas water and power utility said in a late Thursday regulatory filing that Rural Water serves about 940 customers in Arroyo Grande. Terms were not disclosed, and the deal must still be approved by the California Public Utilities Commission.

American States shares on Friday closed down 83 cents, or 1.5 percent, to $53.15 on the New York Stock Exchange.