Ecolab Inc. Announces Buyback Plans

Ecolab Inc.   (NYSE:ECL), a cleaning and pest-control servicing company proposed of buying back its shares worth $1 billion once the acquisition of water treatment company Nalco Holding Co. completed.

The company is expecting to close the deal worth $5.4 billion towards the end of the year.

The company had about 232 million outstanding shares as on 31st July, and is likely to issue around 69 million additional shares during its merger with Nalco.

The company’s shares went down by 89 cents to $50.76 in morning trading.

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