Ecolab tightens hold on US hygiene sector with Microtek buy:
This article was originally published in Clinica
Executive Summary
US provider of cleaning and pest control services to hospitals Ecolab is to consolidate its business in the healthcare sector with the acquisition of Microtek Medical. The deal, which is expected to close in the fourth quarter of 2007, will see Ecolab (St Paul, Minnesota) pay $6.30 per share (approximately $274m in total) for all outstanding shares in the infection control and safety products manufacturer. The purchase of Alpharetta, Georgia-based Microtek is expected to reduce Ecolab's 2008 earnings by two cents per share, but will be accretive beyond that. Ecolab reiterated its forecasts to earn $1.64-1.66 per share for 2007.
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