BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Ecolab (ECL) bid drives Microtek Medical Holdings (MTMD) up 28%]]>http://www.bloggingstocks.com/2007/08/08/ecolab-ecl-bid-drives-microtek-medical-holdings-mtmd-up-28/http://www.bloggingstocks.com/2007/08/08/ecolab-ecl-bid-drives-microtek-medical-holdings-mtmd-up-28/http://www.bloggingstocks.com/2007/08/08/ecolab-ecl-bid-drives-microtek-medical-holdings-mtmd-up-28/#commentsFiled under:

Shares of Microtek Medical Holdings (NASDAQ: MTMD) bounded 27.93% higher Wednesday, jumping $1.31 to close at $6.00 in one of the Nasdaq's largest percentage gains.

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.

Ecolab (ECL) bid drives Microtek Medical Holdings (MTMD) up 28% originally appeared on BloggingStocks on Wed, 08 Aug 2007 16:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ECLEcolab IncEcolabIncmajor movementMajorMovementMicrotek Medical HoldingsMicrotekMedicalHoldingsMTMDstocks to watchStocksToWatchWed, 08 Aug 2007 16:33:00 EST