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Sinochem Makes $2.46-Billion Bid for Nufarm

10:47 PM MDT | September 28, 2009 | Deepti Ramesh

Sinochem (Beijing) and agchem firm Nufarm (Melbourne) say they have entered into a heads of agreement in relation to a non-binding proposal for Sinochem to acquire all ordinary shares of Nufarm for a price of A$13/share. The provisional takeover deal values Nufarm at A$2.84 billion ($2.46 billion). Following speculation that Sinochem may take over the company, Nufarm confirmed in July that it has been approached by Sinochem for a potential acquisition. The potential acquisition of Nufarm will accelerate Sinochem’s global growth strategy in agchems. The...

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