New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 3, 2012
08:06 EDTECLEcolab amends Champion acquisition agreement
Ecolab has amended its acquisition agreement with Permian Mud Service, the parent company of Champion Technologies and Corsicana Technologies, such that Championís downstream process and water solutions business will be spun-off to Permianís shareholders prior to the acquisition by Ecolab, and Ecolab will not acquire those specific operations. 2011 sales for the downstream business, which primarily serves refineries, were approximately $50M. Accordingly, the value of the transaction will be reduced to $2.16B from $2.2B, subject to further adjustment as provided in the acquisition agreement. Ecolab believes the amendment will not have a significant impact on the deal economics, and continues to expect the transaction to deliver approximately 12c accretion to adjusted diluted earnings per share in 2013 increasing to approximately 50c per share by 2016. Ecolab continues to expect closing of the Champion acquisition to occur by year-end 2012, subject to regulatory clearance and other customary closing conditions.
News For ECL From The Last 14 Days
Check below for free stories on ECL the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for ECL

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use