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Nufarm Ends Talks with China National Chemical and Blackstone

2:55 PM MST | December 14, 2007 | Chemical Week Editorial Staff

Agchem company Nufarm (Melbourne) says it has ended discussions with a consortium of investors to buy the company. The consortium is comprised of China National Chemical (ChemChina; Beijing), The Blackstone Group, and Fox Paine Management. The consortium had offered Nufarm A$17.25/share, which valued the company at A$3 billion ($2.6 billion) (CW, Nov. 14 p. 6). Nufarm says it is not obligated to provide any cost reimbursement to the consortium, and that Nufarm is no longer bound by any exclusivity obligations to the consortium. Media reports say that ChemChina is...

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