us filter to acquire culligan water technologies

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这是一则多年前的消息
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U.S. Filter in $1.5 Billion Deal for Culligan

By Reuters

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• Feb. 10, 1998
  

The United States Filter Corporation will acquire the bottled water and treatment systems company Culligan Water Technologies Inc. for about $1.5 billion in stock, the companies said today.

The deal would combine United States Filter, a leading provider of industrial water and wastewater treatment systems, with one of the best-known names in the residential water business.

Under the deal, Culligan shareholders would get 1.714 shares of United States Filter common stock for each Culligan share. Subject to adjustments, the deal would be worth $60 a share in United States Filter stock.

United States Filter shares edged down 12.5 cents, to $34.56, while Culligan's rose $1.125, to $38.875 on the New York Stock Exchange.

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The two companies would have combined revenues of more than $4.5 billion, 2,000 locations and more than 20,000 employees in 90 countries. The Palm Desert-based United States Filter said the deal would consolidate its position as the world's largest water treatment company.

Culligan, which is based in Northbrook, Ill., has annual revenues of about $760 million, with about 4,000 employees worldwide.

Culligan sells brands including Culligan, Everpure and Bruner. Its residential water treatment systems have been installed in more than three million households in the United States -- the largest installed base in the country.

Founded in 1936, Culligan is also one of the largest companies providing water in five-gallon bottles.

''This industry-leading strategic combination will allow greater support of Culligan's strong franchise dealer network and further expand the Culligan brand name, supporting continued strong growth,'' the chairman of Culligan, Douglas A. Pertz, said in a statement.