COMPANIES

Terra Industries Accepts CF Industries' Offer

March 10, 2010 | Kerri Walsh

Terra Industries says it has accepted CF Industries' $47.40/share offer, which was made on March 2. The offer values Terra at about $4.72 billion. Terra has informed Yara International, which offered to buy the company for $41.1/share last month, that...

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Airgas Issues Debt In Spite of Hostile Bid (Update)

Airgas will issue $300 million in new senior debt in a public offering, the company announced today. The will carry an interest rate of 2.85% and come due in 2013. It will go towards paying down the company's current revolving credit facility, which expires...

Ferro Director Departs, Citing Performance and Governance Concerns

Ferro director Michael F. Mee resigned from the company's board following the company's February 26 board meeting, raising several concerns regarding the company's performance and governance, according to an SEC filing....

Sanofi-Aventis and Merck & Co. to Create a Global Leader in Animal Health

Sanofi-Aventis (Paris) and Merck & Co., have announced that Sanofi-Aventis has exercised its option to combine its Merial unit with Intervet/Schering-Plough (Boxmeer, the Netherlands), Merck's animal health business, to create a global leader in animal...

Bayer MaterialScience Acquires Artificial Muscle Inc., an Electroactive Polymers Business

Bayer MaterialScience (BMS) has acquired Artificial Muscle Inc., (AMI; Sunnyvale, CA), a leader in the field of electroactive polymers for the consumer electronics industry. Financial details were not disclosed. AMI polymers are used in the development...

Momentive Loss Narrows During 2009

Momentive Performance Materials recorded a narrowed loss during the year ended December 31, 2009, the company announced today. Momentive's net loss totaled $41.8 million in 2009, compared to $997.1 million in 2008...

LyondellBasell Files Reorganization Plan, Rejects Reliance Bid

LyondellBasell has filed its reorganization plan with the U.S. District Court for the Southern District of New York, rejecting Reliance Industry’s $14.5 billion bid for the company. Under the reorganization plan, LyondellBasell will repay in full an...

Weekly Round-Up: Dow Moving Forward

In a week in which Dow Chemical agreed to sell its Styron unit to private equity firm Bain Capital, Dow CEO Andrew Liveris, sat down for a Q&A with CW. He discussed the company's challenging 2009 and its future. Dow wasn't the only company looking to the...

Aurobindo Pharma Establishes CRAMS Division

Active pharmaceutical ingredients (APIs) and generic pharmaceuticals manufacturer Aurobindo Pharma (Hyderabad, India) says it has introduced AuroSource, a division within the company that will provide custom research and manufacturing (CRAMS) services for...

Banker: 'Ingredients in Place' for Major M&A Rebound

M&A activity will increase during 2010 after a down year in 2009, Tim Wilding, co-head/industrials at Oppenheimer Fund (New York) told an audience at a Chemical Marketing & Economics (CM&E) Group luncheon yesterday. "I think all the...

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