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People & Business :: Companies
Ecolab, Nalco Shareholders Approve Merger
1:59 PM MST | November 30, 2011 | Vincent Valk
Shareholders of Ecolab and Nalco have voted in favor of the Ecolab’s $8.3 billion cash and stock offer for Nalco, at special shareholders' meetings held today. About 74% of Nalco shares voted in favor of Ecolab’s $38.80/share offer, which was announced in July. About 99% of Ecolab shareholders voted to issue 68.3 million shares of new common stock to form part of the consideration paid to Nalco shareholders. The $8.3 billion offer values Nalco’s equity at $5.6 billion, and includes $2.7 billion in assumed debt. The deal is expected to...
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