Merger of Ashland, Hercules clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Aug. 11 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Ashland Inc. and Hercules Inc., it was announced on Monday.

In July Ashland agreed to acquire Hercules in a stock and cash deal valued at $23.01 per Hercules share or about $3.3 billion including debt.

Under the companies' definitive merger agreement, Hercules shareholders will receive $18.60 per share in cash plus 0.093 of a share of Ashland common stock for each share of Hercules common stock, it was previously reported.

Ashland is a diversified, global chemical company based in Covington, Ky.

Hercules manufactures and markets chemical specialties globally for making a variety of products for home, office and industrial markets.

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