ST. PAUL, Minn.--(BUSINESS WIRE)--
Ecolab Inc. announced its Board of Director's authorization to
repurchase up to 10 million additional shares of Ecolab common stock.
The authorization would only be effective upon the consummation of the
previously announced Nalco Holding Company merger.
The Board last increased its share repurchase authorization in May 2011.
Ecolab had approximately 18 million shares remaining under previous
repurchase authorizations, and approximately 232 million shares
outstanding on July 31, 2011.
The combined Ecolab share repurchase authorization following completion
of the Nalco merger would be 28 million shares.
Ecolab expects to conduct its purchases in the open market; in privately
negotiated transactions from time to time, depending on the market
conditions; and through purchases made in accordance with Rule 10b5-1 of
the Securities Exchange Act of 1934.
With sales of $6 billion and more than 26,000 associates, Ecolab (NYSE:
ECL) is the global leader in cleaning, sanitizing, food safety and
infection prevention products and services. Ecolab delivers
comprehensive programs and services to the foodservice, food and
beverage processing, healthcare, and hospitality markets in more than
160 countries. More news and information is available at www.ecolab.com.
This news release contains various "Forward-Looking Statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These include statements concerning Ecolab's repurchase of common stock
and consummation of the proposed Nalco merger. These statements, which
represent Ecolab's expectations or beliefs concerning various future
events, are based on current expectations that involve a number of risks
and uncertainties that could cause actual results to differ materially
from those of such Forward-Looking Statements, including changes in
Ecolab's stock price, financial results, financial condition and cash
requirements. We caution that undue reliance should not be placed on
Forward-Looking Statements, which speak only as of the date made.
(ECL-C)
Ecolab Inc.
Michael J. Monahan
651-293-2809
Source: Ecolab Inc.
News Provided by Acquire Media