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US: Chemical merger delayed by months now expects clearance within days

By  |  April 9, 2013

A merger between chemical company Ecolab Inc. and Champion Technologies Inc., a deal that has been delayed by months after the Department of Justice found cause for concern, is now expected to be completed within the next several days. According to reports, Ecolab, which plans to buy the company for $2.3 billion, has agreed to divest some of its assets following the acquisition. Specifically, Ecolab would be required to divest Clariant Corp., based in Switzerland, the Gulf of Mexico asset of Champion, as well as patent and licenses for technology. The Gulf asset is a chemical management service for deepwater oil wells in the Gulf.

 

Full Content: Bloomberg

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