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Nufarm Will Not Accept a Lower Offer from Sinochem

1:17 AM MST | December 3, 2009 | Natasha Alperowicz

Nufarm (Melbourne) says Sinochem must pay the agreed price of A$13/share for Nufarm, valuing the company at A$2.8 billion ($2.6 billion). The two companies earlier this week extended the deal's deadline from December 3, to December 23, after Sinochem asked Nufarm for more information. Sinochem is seeking information relating to long term forecasts and currency movements. Nufarm would not back any offer from Sinochem below A$13/share, say chairman Kerry Hoggard and CEO Doug Rathbone. "We believe A$13 is a fair price for Nufarm,"...

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