IHS Chemical Week

People & Business :: Earnings/Finance

Ecolab to Repurchase $1 Billion in Shares

8:35 AM MDT | September 6, 2011 | Vincent Valk

Ecolab has announced plans to repurchase $1 billion in shares upon the completion of the company's acquisition of Nalco. Last month, Ecolab's board voted to increase the size of its share repurchase authorization to 28 million shares, from 18 million. Ecolab had 232 million shares outstanding as of July 31. The company will issue an additional 69 million shares in the $8.1 billion Nalco acquisition, which will be paid for with a combination of cash and equity.   "We have successfully completed much of the preparation work for the financing of our...

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