ST. PAUL, Minn.--(BUSINESS WIRE)--
Ecolab Inc. announced today that it has received clearance from the
China antitrust authority to proceed with its previously announced
merger with Nalco Holding Company.
Ecolab and Nalco have now received clearances from all antitrust
authorities which require pre-clearance in order to complete the Nalco
merger.
Shareholders from both Ecolab Inc. and Nalco Holding Company
overwhelmingly approved the merger of the two companies on November 30,
2011. The completion of the merger remains subject only to customary
closing conditions, and Ecolab anticipates that the parties will proceed
to complete the merger effective today.
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.
Cautionary Statements Regarding Forward-Looking Information
This communication contains certain statements relating to future events
and our intentions, beliefs, expectations and predictions for the future
which are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Words or phrases such
as "will likely result," "are expected to," "will continue," "is
anticipated," "we believe," "we expect," "estimate," "project," "may,"
"will," "intend," "plan," "believe," "target," "forecast" (including the
negative or variations thereof) or similar terminology used in
connection with any discussion of future plans, actions or events
generally identify forward-looking statements. These forward-looking
statements include, but are not limited to, statements regarding the
expected closing of the merger, benefits of the merger, integration
plans and expected synergies, anticipated future financial and operating
performance and results, including estimates for growth, and share
repurchases. These statements are based on the current expectations of
management of Ecolab and Nalco. There are a number of risks and
uncertainties that could cause actual results to differ materially from
the forward-looking statements included in this communication. These
risks and uncertainties include (i) problems that may arise in
successfully integrating the businesses of the companies, which may
result in the combined company not operating as effectively and
efficiently as expected, (ii) the possibility that the merger may
involve unexpected costs, unexpected liabilities or unexpected delays,
(iii) the risk that the credit ratings of the combined company or its
subsidiaries may be different from what the companies currently expect,
(iv) the risk that the businesses of the companies may suffer as a
result of uncertainty surrounding the merger and (v) the risk that
disruptions from the transaction will harm relationships with customers,
employees and suppliers.
Other unknown or unpredictable factors could also have material adverse
effects on future results, performance or achievements of Ecolab, Nalco
and the combined company. For a further discussion of these and other
risks and uncertainties applicable to the respective businesses of
Ecolab and Nalco, see the Annual Reports on Form 10-K of Ecolab and
Nalco for the fiscal year ended December 31, 2010 and the companies'
other public filings with the Securities and Exchange Commission, or
SEC. These risks, as well as other risks associated with the merger, are
more fully discussed in the joint proxy statement/prospectus included in
the Registration Statement on Form S-4 that Ecolab has filed with the
SEC in connection with the merger, which was declared effective by the
SEC on October 28, 2011. In light of these risks, uncertainties,
assumptions and factors, the forward-looking events discussed in this
communication may not occur. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date of this communication. Neither Ecolab nor Nalco undertakes, and
each of them expressly disclaims, any duty to update any forward-looking
statement whether as a result of new information, future events or
changes in their respective expectations, except as required by law.
(ECL-C)
For Ecolab Inc.
Michael J. Monahan, 651.293.2809
Source: Ecolab Inc.
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