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Stock Market & Financial Investment News

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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.
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April 23, 2015
11:43 EDTECLEcolab management to meet with Jefferies
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April 16, 2015
19:46 EDTECLEcolab to acquire Travelers North Tower in St. Paul, MN, terms not disclosed
Ecolab (ECL) has signed a purchase agreement to acquire the 17-story North Tower from Travelers (TRV) in downtown St. Paul, MN. The transaction is expected to close in Q3, and by the end of 2018, Ecolab will relocate all associates from the three buildings that comprise its world headquarters in downtown St. Paul to the North Tower. Financial terms of the agreement are not being disclosed.

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