Israel Chemicals Completes Acquisition of Scotts Miracle-Gro’s Specialty Fertilizer Unit

Israel Chemicals Ltd. (ICL; Tel Aviv) says that on February 28, 2011, it completed the previously announced acquisition of Scotts Miracle-Gro’s (Marysville, OH) Global Professional specialty fertilizers/horticultural inputs business for $270 million in an all-cash transaction. The effective purchase price is about $255 million, after agreed upon adjustments at closing for pension liabilities and working capital, which may be further adjusted, based on the terms of the purchase and sale agreement, Scotts Miracle-Gro says. ICL had first announced it plans for...

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