IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

Makhteshim Agan Terminates Negotiations to Acquire U.S. Agchem Firm

5:21 AM MDT | September 2, 2010 | Deepti Ramesh

Makhteshim Agan (Tel Aviv) says it has terminated negotiations with Albaugh (Ankeny, IA), a privately held manufacturer of off-patent crop protection products, for the previously announced acquisition of Albaugh by Makhteshim, for more than $1 billion. Makhteshim had signed a letter of intent with Albaugh in June for the acquisition. The termination of negotiations follows various findings in the course of the due diligence process, which constituted a material deviation from the data based on which Makhteshim decided to sign the letter of intent, Makhteshim...

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