Ecolab increases share repurchase authorization

Ecolab increases share repurchase authorization

2:59 AM, 24th August 2011
Ecolab increases share repurchase authorization

 

ST PAUL, US: Ecolab Inc’s board of director’s authorizes 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.

(C) WOC News

 

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