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Sinochem's Deal to Acquire Nufarm Suffers Setback; Partners Extend Acquisition Deadline

1:24 AM MST | December 1, 2009 | Natasha Alperowicz

Nufarm (Melbourne), a leading global generic crop protection player, has notified the Australian stock exchange that a previously announced acquisition of Nufarm by Sinochem (Beijing) will likely be delayed and that discussions between Nufarm and Sinochem will be conducted on a non-exclusive basis beyond the original deadline of December 3. On September 27, 2009 Nufarm and Sinochem signed a heads of agreement in relation to a non-binding proposal for Sinochem to acquire all of the issued ordinary shares in Nufarm for A$13.00/share, valuing Nufarm at...

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