Heckmann Corp. (HEK) to Acquire China Water and Drinks for $625M
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- Heckmann Corp. (HEK) to Acquire China Water and Drinks for $625M
Heckmann Corporation of Palm Desert, California (AMEX: HEK) and China Water and Drinks Inc. (OTCBB: CWDKE) today announced that they have signed a definitive agreement under which Heckmann would acquire China Water for a total purchase price of $625 million.
Of the total price, approximately $455.0 million is expected to be paid in common stock at an exchange ratio of 0.80 per share of Heckmann stock for each share of China Water stock and approximately $170.0 million is expected to be paid in cash at $5.00 per share.
Heckmann Corporation does not have significant operations.
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