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News Breaks | | | | December 3, 2012 | | 08:06 EDT |  | ECL | Ecolab 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 Champion’s downstream process and water solutions business will be spun-off to Permian’s 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. | |
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| May 16, 2013 | | 07:33 EDT |  | ECL | Ecolab to particiate in a luncheon meeting with Executive Club of Chicago
The Executive Club of Chicago hosts its May Awards Luncheon Meeting with Ecolab's Chairman & CEO, Doug Baker, as the keynote speaker in Chicago on May 16 at 12 pm. | | | May 14, 2013 | | 07:23 EDT | | ECL | Oppenheimer to host a summit
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