Ecolab, Nalco Shareholders Approve Merger

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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