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Fertilizer Maker Buys Stake in Dyno Nobel

12:50 PM MDT | September 7, 2007 |

CW Editorial Staff

Fertilizer maker Incitec Pivot (Melbourne) says it has acquired a 13% stake in explosives manufacturer Dyno Nobel (Sydney) for A$250 million ($203 million). Incitec says it paid A$2.35/share between August 24 and 29, a 25% premium above Dyno’s closing price on August 23. The announcement sparked speculation in the press that Incitec plans to make an acquisition bid for Dyno. “Incitec Pivot will be seeking to explore further opportunities in discussions with the board and management of Dyno Nobel,” Incitec says. A bid for Dyno could be worth...

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