Cleaning services company Ecolab Inc said it will purchase privately held Champion Technologies Inc, a maker of oilfield specialty chemicals, for about $2.2 billion in cash and stock.Ecolab, whose technologies, chemicals and services are used in water treatment, pollution control, energy conservation, oil production and refining, said Champion's technology and products were complementary to its services in the offshore and international energy markets.Ecolab, based in St. Paul, Minnesota, will pay about $1.7 billion in cash and issue about 8 million shares to Champion, subject to certain adjustments at and after closing.Ecolab's shares closed at $63.67 on the New York Stock Exchange on Thursday.
Ecolab Inc. (Ecolab) develops and markets products and services for the hospitality, foodservice, healthcare and industrial markets. Shares of ECL remained unchanged at $63.67. In the past year, the shares have traded as low as $51.74 and as high as $68.96. On average, 1386020 shares of ECL exchange hands on a given day and today's volume is recorded at 0.
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