Houston-area upstream services businesses to combine in $4.4B deal

The Woodlands-based Apergy Corp. (NYSE: APY), which spun off of an Illinois-based company last year, will merge with the upstream energy business of Sugar Land-based Nalco Champion, a division of Minnesota-based Ecolab Inc. (NYSE: ECL) created in 2013.

The deal is expected to be complete by the end of the second quarter of 2020, according to a Dec. 19 press release. Apergy will issue 127 million shares to Ecolab shareholders and assume net debt of approximately $492 million. Existing Apergy shareholders…

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