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Markets :: Fine Chemicals/Biotech :: Agricultural chemicals
Platform acquires Chemtura's pesticides business for $1 billion
12:37 PM MDT | April 21, 2014 | Francinia Protti-Alvarez
Platform Specialty Products (PSP; Waterbury, CT) has entered into a definitive agreement to acquire Chemtura's pesticides business for $1 billion. The price consists of $950 million in cash plus 2 million shares of PSP's common stock, PSP announced today. Closing is planned for the second half of 2014 and is subject to customary conditions and regulatory approvals. Chemtura's pesticides business reported net sales of approximately $449 million and adjusted Ebitda of $101 million. The business provides seed treatment...
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