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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
Incitec Pivot Makes an Offer to Acquire Dyno Nobel
2:02 PM MDT | April 2, 2008 | Chemical Week Editorial Staff
Incitec Pivot (Melbourne), Australia’s biggest producer and distributor of fertilizers, has made an offer to acquire explosives manufacturer Dyno Nobel (Sydney). The cash-and-shares offer, at an “implied offer price” of A$2.80/share, values Dyno at A$3.3 billion ($3.1 billion) including debt. Incitec currently owns a 13% stake in Dyno, which it purchased in August 2007. Dyno shareholders will receive 0.01406 Incitec shares and A$0.70 in cash for every Dyno share they hold. Incitec says it has secured a A$2.4-billion facility from a consortium of...
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