Microtek Medical Holdings Inc. to be bought by Ecolab
Shares of surgical products maker Microtek Medical Holdings Inc. (Nasdaq: MTMD) are galloping out of the gate this morning after the developer of products and services for the hospitality, foodservice, healthcare and industrial markets Ecolab Inc. (NYSE: ECL) said it will acquire Microtek Medical for $274.05 million.
Under the terms of the deal, St. Paul, Minn.-based Ecolab said it will pay $6.30 per share for Microtek Medical, representing a 34% premium over Microtek Medical's closing stock price on Tuesday of $4.69.
Shares of Microtek Medical jumped 28%, or $1.31, to $6.00 Wednesday morning.
