Ecolab Extends Closing of Champion Technologies
Ecolab Inc. (NYSE: ECL) announced that it continues to be in active and ongoing discussions with the Antitrust Division of the U.S. Department of Justice (DOJ) regarding Ecolab's filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to Ecolab's previously announced agreement to acquire Champion Technologies. Further, Ecolab and Champion have entered into a timing agreement with the DOJ to extend the waiting period under the HSR Act for the DOJ's review of the transaction until February 28, 2013.
While Ecolab remains confident that it can address the DOJ's remaining issues, it of course remains possible that the transaction will not be completed on the timing discussed or at all.
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