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Fly News Breaks for December 19, 2019
APY, ECL
Dec 19, 2019 | 15:40 EDT
Stifel analyst Shlomo Rosenbaum maintained a Hold rating on Ecolab (ECL), but said the company's announcement that its upstream business would combine with Apergy (APY) in a deal valued at $4.4B enterprise value "looks like a good deal for Ecolab shareholders." Rosenbaum added that this result is much better than spinning out the upstream assets as a stand-alone entity, which he estimated would have had a $2.8B enterprise value.
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