01—Abstract
Summary
Summary of the 8-K filed November 13, 2007. Cited figures are marked; the original filing is the authoritative source.
Ecolab Inc. (ECL) filed an 8-K on November 12, 2007, to report the completion of its acquisition of Microtek Medical Holdings, Inc. (Microtek).
The transaction, effective November 9, 2007, involved Ecolab's subsidiary, Magic Acquisition Inc., merging with and into Microtek. Microtek will continue as a wholly owned subsidiary of Ecolab following the merger. Under the terms of the Merger Agreement dated August 7, 2007, Ecolab acquired all outstanding shares of Microtek for a cash consideration of $6.30a per share.
The acquisition was funded through the issuance of commercial paper under Ecolab's existing U.S. commercial paper program. This filing serves as formal notification to investors and the market of this significant corporate development.
02—Key points
Key Highlights
- Ecolab Inc. successfully completed the acquisition of Microtek Medical Holdings, Inc. on November 9, 2007.
- The acquisition was structured as a merger where Microtek becomes a wholly owned subsidiary of Ecolab.
- Ecolab acquired all outstanding shares of Microtek for $6.30 per share in cash.
- The transaction was funded through Ecolab's U.S. commercial paper program.
- The Merger Agreement governing the acquisition was originally dated August 7, 2007.
- A press release detailing the acquisition was issued and is attached as an exhibit to the filing.
03—Questions
Frequently Asked Questions
What was the main purpose of this 8-K filing?
The main purpose of this 8-K filing was to formally announce and report the completion of Ecolab Inc.'s acquisition of Microtek Medical Holdings, Inc.
How was the acquisition of Microtek funded?
The acquisition was funded by Ecolab through the issuance and sale of commercial paper under its U.S. commercial paper program.
What was the purchase price per share for Microtek?
Ecolab acquired all outstanding shares of Microtek for $6.30 per share in cash.
What is the significance of this acquisition for Ecolab?
While the 8-K itself doesn't elaborate on strategic benefits, the acquisition of Microtek Medical Holdings, Inc. likely indicates Ecolab's expansion or strengthening within a specific market segment, potentially related to medical or hygiene solutions, given Microtek's name.
04—Continue