By Ian Walker

Bioquell PLC (BQE.LN), a specialist bio-decontamination equipment provider, said Friday that it has agreed to a 140.51 million-pound ($179.8 million) cash offer from Ecolab U.S. 2 Inc., a subsidiary of Ecolab Inc. (ECL).

Under the offer, accepting shareholders will get 590 pence for each share held, a 40% premium to its closing share price of 420 pence on Thursday.

However, if any dividend or other capital return is declared, Ecolab has the right to reduce the offer price by the same amount, the companies said in a joint statement.

Ecolab provides water treatment and process applications as well as cleaning and sanitizing solutions, primarily to large industrial customers.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

November 30, 2018 02:38 ET (07:38 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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