California based Heckmann Corporation has received approval from its stockholders to merge with China Water and Drinks Incorporated.
Under the terms of the Merger Agreement, dated May 19, 2008, Heckmann will acquire all outstanding equity interests of China Water and its related entities, in exchange for cash and stock.
According to Heckman this transaction will give China Water the necessary capital and enhanced management resources to execute its growth plan and take the business to the next level. They aim to build on China Water' s well-established bottled water platform and initiate an aggressive acquisition program to build China Water into a leading global water enterprise.