Microtek's gain was driven by yesterday's announcement that Ecolab Inc. (NYSE: ECL) plans to buy out the company's 43.5 million outstanding shares for $6.30 per share in cash, or $274.1 million.
Analysts that cover the health care industry don't seem too surprised by the acquisition. Both companies are among the leaders in their field, and the deal is expected to leverage the resources of both. Ecolab provides cleaning and pest control services to the hospitality industry while Microtek is a supplier or infection and fluid control products, and other surgical products.
Microtek will release its second quarter earnings Thursday.
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Reader Comments (Page 1 of 1)
9-06-2007 @ 11:14AM
H Knapp said...
This is good news for those of us who have gone thru several buyouts with this stock and have decided to hang on when it was super low.