Ecolab Announces Increased Share Repurchase Authorization
August 23 2011 - 5:00PM
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.
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