Cleaning, food safety and pest-control services company Ecolab Inc. said Thursday that it has completed its $5.6 billion acquisition of water treatment company Nalco Holding Co. after receiving the final antitrust approval it needed.
Shareholders of both companies overwhelmingly approved the acquisition, Ecolab said. The company said Thursday that the deal cleared its last regulatory hurdle as China's antitrust authority approved it.
The $5.6 billion price is based on Ecolab's closing stock price Wednesday. Ecolab is also assuming $2.7 billion of Nalco's debt.
The St. Paul, Minn., company first announced its plan to buy Naperville, Ill.-based Nalco in July. Nalco shareholders will receive either 0.7005 shares of Ecolab stock or $38.80 per share in cash.
Shares of Ecolab fell $1.50, or 2.6 percent, to $55.52 in midday trading. Shares of Nalco added 9 cents to $38.84.
