Bioquell Plc, Ecolab Reach Agreement On Terms Of Recommended Cash Offer

(RTTNews) - The boards of Ecolab and Bioquell announced they have reached agreement on the terms of a recommended cash offer to be made by Ecolab unit for the entire issued and to be issued ordinary share capital of Bioquell. The offer is to be effected by means of a Court-sanctioned scheme of arrangement. Bioquell shareholders shall be entitled to receive: for each Scheme share : 590 pence in cash. The offer values the entire issued and to be issued ordinary share capital of Bioquell at approximately 140.51 million pounds.

The Bioquell Directors said it intends to recommend unanimously that shareholders vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting.

The consideration payable under the offer will be financed using existing cash resources of the Ecolab Group.