Regions :: North America
Henkel to Sell its Ecolab Shares; Ecolab to Buy Part of Stake
10:23 AM MST | November 18, 2008 | Robert Westervelt
Henkel plans to sell its 29.4% stake in Ecolab, roughly 72.7 million shares, via a public offering to investors. Ecolab has agreed to purchase $300 million of those shares directly from Henkel. Baker: Repurchase is a timely investment. The offering price was set at $30.50/share late last week, valuing Henkel’s stake at roughly $2.2 billion. Ecolab would repurchase roughly 4% of its outstanding shares based on the offer price. Ecolab says it will fund the share purchase with available cash, issuance of commercial paper, and possibly committed bank lines of...
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