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ECOLAB INC. (NYSE:ECL) Files An 8-K Other Events

ECOLAB INC. (NYSE:ECL) Files An 8-K Other EventsItem 8.01 Other Events.

On February 23, 2017, Ecolab Inc. (the “Company”), as part of its previously announced share repurchase program, entered into an accelerated share repurchase (“ASR”) agreement with JPMorgan Chase Bank, National Association (“JPMorgan”).

Under the ASR agreement, the Company will repurchase a variable number of shares of its outstanding common stock from JPMorgan for $300 million, with the initial delivery of the repurchased shares to be on or about February 28, 2017. The final per share purchase price and the total number of shares to be repurchased under the ASR agreement will be based on the volume-weighted average price of the Company’s common stock during the term of the agreement, and will be determined upon completion of the ASR transaction. If the number of shares to be repurchased exceeds the number of shares previously delivered under the agreement, the Company will receive from JPMorgan a number of additional shares equal to such excess at that time.  If the actual number of shares to be repurchased is less than the number of shares previously delivered, the Company will be required, at its election, to either (1) deliver to JPMorgan a number of shares approximately equal to the value of such difference or (2) make a cash payment to JPMorgan equal to the value of such shares. The ASR agreement is scheduled to end in the second quarter of 2017, but it may conclude earlier at JPMorgan’s option. All shares acquired by the Company under the ASR agreement will be recorded as treasury stock.

The ASR agreement is subject to terms customary for similar agreements, including adjustments upon the occurrence of certain events and setting forth certain circumstances under which the ASR agreement may be terminated prior to the scheduled termination date.

About ECOLAB INC. (NYSE:ECL)
Ecolab Inc. provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units. The Global Energy segment provides on-site and technology-driven solutions to the global drilling, oil and gas production, refining and petrochemical industries. The Other segment consists of the pest elimination and equipment care operating units. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in approximately 170 countries. ECOLAB INC. (NYSE:ECL) Recent Trading Information
ECOLAB INC. (NYSE:ECL) closed its last trading session down -0.34 at 122.76 with 1,003,601 shares trading hands.

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