Ecolab Closes Sale Of Global Surgical Solutions Business For ~$950M In Cash, Announces Intent To Repurchase Up To $500M Of Its Stock
Portfolio Pulse from Benzinga Newsdesk
Ecolab Inc. has sold its global surgical solutions business to Medline for approximately $950 million in cash. The company plans to use part of the proceeds to repurchase up to $500 million of its stock in the second half of 2024.
August 01, 2024 | 1:19 pm
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Ecolab Inc. has completed the sale of its global surgical solutions business to Medline for $950 million in cash. The company plans to repurchase up to $500 million of its stock in the second half of 2024, which could positively impact its stock price.
The sale of the global surgical solutions business provides Ecolab with significant cash, enhancing its ability to invest in growth opportunities and return capital to shareholders. The planned stock repurchase is likely to be viewed positively by investors, potentially driving up the stock price.
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