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Was the acquisition financially successful? What evidence supports your assessment? a Yes, because Ecolab grew revenues almost 27% (26.56%) from the 2011 pro forma to

Was the acquisition financially successful? What evidence supports your assessment?

a

Yes, because Ecolab grew revenues almost 27% (26.56%) from the 2011 pro forma to the 2014 actual sales, just over 8% CAGR

b

All of the above

c

Yes, because investors saw a 100% return ($32.5 closing market cap - $11.8 opening market cap - $10.3 billion acquisition costs [$8.1 billion for Nalco and $2.2 billion for Champion] = $10.4 billion return)

d

Yes, because in terms of share price appreciation, Ecolab's shares more than doubled (106%) between the announcement day and the close of 2014. In contrast, the S&P Index went up 56%, so an investor would have more than doubled their money by buying Ecolab rather than investing in an S&P index fund

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