Sinochem made a A$2.8bn ($2.4bn) cash bid for Australia’s Nufarm on Monday in a deal that could significantly expand the Chinese group’s global footprint in agricultural chemicals. The A$13 a share offer was pitched at a 17% premium to Nufarm’s last traded price of A$11.14 and came two months after Nufarm said it had been approached by Sinochem. Nufarm said it would work with Sinochem until Dec 3 on an exclusive basis to negotiate a transaction agreement.

This entry was posted by Gwen Robinson on Monday, September 28th, 2009 at 4:57 and is filed under Capital markets, M&A. Tagged with Nufarm, Sinochem. Edit this entry.