The United States Justice Department reported that Ecolab Inc (NYSE:ECL) made a proposed deal with antitrust watch dogs that will permit it to purchase Permian Mud Service Inc’s Champion Technologies Inc.
Justice Department reported in the statement that the deal would require the divestiture of Champion’s chemical-management services for deep-water oil and gas wells in the United States Gulf of Mexico.
The statement confirms that the deal would lead to higher prices, lowered quality service and diminished innovation without the transfer of Gulf assets.
Ecolab reported in a statement that the deal is forecasted to be done within the coming 7 days.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Zep, Inc. (NYSE:ZEP) rose +2.87% to settle at $15.06, The Clorox Company (NYSE:CLX) moved up +0.87% to end at $87.36 while Rollins, Inc. (NYSE:ROL) jumped +0.74% to finish at $23.29 on Monday.
Ecolab Inc. (NYSE:ECL) on April 08, 2013 increased +0.88% to the closing price of $80.04. The overall volume in the last trading session was 707,438 shares. Its fifty two weeks range was $59.81 – $80.69. The total market capitalization remained at $23.61 billion.
ECL is ahead of its 52-week low with 35.50% and lagging behind from its 52-week high price with -0.81%. ECL’s last month’s stock price volatility remained 1.25%. In its share capital ECL has 295.61 million outstanding shares, among them 295.16 million shares have been floated in market exchange. ECL’s stock’s institutional ownership remained 86.55% while insider ownership included 0.35%.
The stock price of ECL is moving forward from its 20 days moving average with 0.86% and remote positively from 50 days moving average with 4.66%. ECL’s current year’s earnings per share experienced an addition with 23.22% while its current quarter performance remained at 7.97%. Company’s beta coefficient included 0.66. Beta factors measure the amount of market risk associated with market trade.
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