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Ecolab to Buy Nalco for $5.4 Billion to Add Water Treatment

Ecolab Inc., the largest maker of cleaning chemicals for hotels and restaurants, agreed to acquire Nalco Holding Co. for $5.4 billion in cash and stock to add industrial water-treatment services.

Ecolab is offering $38.80 a share or 0.7005 of a share for each Nalco share, St. Paul, Minnesota-based Ecolab said today in a statement. Ecolab will use about $1.6 billion in cash and issue about 68.9 million shares to pay for the deal. The bid is 34 percent above Nalco’s closing share price yesterday on the New York Stock Exchange.